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D.O.C OPTICS CORPORATION TO COMMENCE SELF TENDER OFFER AND SUBSEQUENT MERGER

 D.O.C OPTICS CORPORATION TO COMMENCE SELF TENDER OFFER
 AND SUBSEQUENT MERGER
 SOUTHFIELD, Mich., April 28 /PRNewswire/ -- D.O.C Optics Corporation (NASDAQ: DOCO) announced today a plan to commence a self tender offer to purchase its shares of common stock from all public shareholders.
 The proposed purchase price is $9-3/8 per share. As of the close of business on April 27, 1992, the NASDAQ high bid price for the shares was $6 and the low asked price was $6. The tender offer will not be conditioned on any minimum number of shares being tendered, but tenders will be accepted only from holders who tender all shares beneficially held by them. No partial tenders will be accepted.
 Following the self tender, the company intends to effectuate a merger pursuant to which public shareholders (other than certain members of management and their affiliates) who have not tendered their shares to the company will receive $9-3/8 for their shares.
 The company has received an opinion from Roney & Co., an investment banking firm, that the proposed price of $9-3/8 per share is fair from a financial point of view.
 Richard Golden, president and chief executive officer of the company, stated that the board of directors has unanimously concluded that the transaction is in the best interest of the public shareholders and the company.
 It is anticipated that the offer to purchase will commence on or about May 1, 1992, and withdrawal rights will expire 45 days thereafter, unless the offer is extended.
 -0- 4/28/92
 /CONTACT: James A. Lies of D.O.C Optics Corporation, 313-354-7100, Ext. 2322/
 (DOCO) CO: D.O.C Optics Corporation ST: Michigan IN: REA SU: OFR


DH -- DE025 -- 3966 04/28/92 15:45 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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