The Bell tolls.Meanwhile, Edwards' former company; City of Industry-based Bell Industries, is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bid for Coast Distribution System Inc. Bell is a network engineering company that also has a division that distributes parts for recreational vehicles, motorcycles, snowmobiles and boats. Morgan Hills-based Coast supplies parts to the recreational boat industry. The struggling Bell is looking to beef up its recreational division. It made an unsolicited un·so·lic·it·ed adj. Not looked for or requested; unsought: an unsolicited manuscript; unsolicited opinions. unsolicited Adjective $50 million offer last fall to acquire Coast at $7.70 per share, a hefty premium over Coast's $6.69 share price at the time. Coast rejected the offer, saying it was too low. Coast is now trading at $7.25 per share, and Bell persists in its takeover attempt Noun 1. takeover attempt - an attempt to take control of a corporation bear hug - a takeover bid so attractive that the directors of the target company must approve it or risk shareholder protest . Neither company returned calls for comment. In its latest move, Bell sent a letter to Coast's directors in mid-February pressing its case. Since December's takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares , Coast's board has adopted a shareholder rights plan--also known as a "poison-pill"--which would allow the company to flood the market with shares in an effort to thwart a takeover. Staff reporter Hilary Potkewitz can be reached at (323) 549-5225 ext. 226 or at hpotkewitz@labusinessjournal.com. |
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