BHC ACQUISITION EXTENDS TENDER OFFER FOR PINELANDS
BHC ACQUISITION EXTENDS TENDER OFFER FOR PINELANDS NEW YORK, NY, August 18, 1992 -- BHC Communications, Inc.
(AMEX: BHC) and its majority shareholder, Chris-Craft Industries, Inc. (NYSE: CCN), announced today the extension of the expiration date of the tender offer by BHC's wholly-owned subsidiary, BHC Acquisition Corp., for all of the outstanding shares of common stock of Pinelands, Inc. (NYSE: PL) at a price of $18 per share plus additional consideration equal to 6 percent per annum from (but excluding) July 12, 1992. The tender offer, as extended, will expire at 5:00 p.m., New York City time, on August 19, 1992.
BHC anticipates that it will extend the tender offer from day to day pending satisfaction of the conditions to the offer, including receipt of Federal Communications Commission approval. As of 5:00 p.m., New York City time, on August 18, 1992, 16,230,978 shares of Pinelands common stock had been tendered pursuant to the tender offer. -0- 8/18/92 /CONTACT: William D. Siegel, 212-421-0200, for BHC Communications and Chris-Craft Industries/ (BHC CCN PL) CO: BHC Acquisition Corp.; BHC Communications, Inc.; Chris-Craft Industries, Inc.; Pinelands, Inc. ST: New York, New Jersey IN: ENT SU:
TM -- NY081 -- 1138 08/18/92 17:42 EDT
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|Date:||Aug 18, 1992|
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