Printer Friendly

DELAWARE CHANCERY COURT DENIES PRELIMINARY INJUNCTION AGAINST TENDER FOR GRACE ENERGY

 DELAWARE CHANCERY COURT DENIES PRELIMINARY INJUNCTION
 AGAINST TENDER FOR GRACE ENERGY
 BOCA RATON, Fla., June 26 /PRNewswire/ -- W. R. Grace & Co. (NYSE: GRA) today announced that the Delaware Chancery Court has denied an application for a preliminary injunction against Grace's pending tender offer to acquire the publicly held shares of its 83.4 percent- owned subsidiary, Grace Energy Corporation (NYSE: GEG). An application for the injunction was made as part of a previously reported lawsuit challenging the transaction.
 A Grace subsidiary commenced a $19 per share cash tender offer for Grace Energy's publicly held shares on June 1; the offer is scheduled to expire at midnight, New York City Time, on June 26.
 A Grace spokesman said that the Chancery Court's decision supports Grace's belief that the lawsuit is completely without merit.
 Grace is the world's largest specialty chemicals company with a leadership position in health care. Grace Energy Corporation, headquartered in Dallas, is a diversified energy company whose subsidiaries are engaged in supplying services and equipment to the petroleum industry; the exploration for development of oil and natural gas; and coal mining.
 -0- 6/26/92
 /CONTACT: Chuck Suits of W. R. Grace & Co., 407-362-2600 or 800-GRACE99/
 (GRA GEG) CO: W. R. Grace & Co.; Grace Energy Corporation ST: Florida, Texas IN: CHM UTI SU:


AW-JJ -- FL005 -- 4186 06/26/92 11:36 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 26, 1992
Words:224
Previous Article:CWA TO PROTEST DEPLOYMENT OF AT&T VOICE 'ROBOTS'; TACOMA OFFICE SLATED FOR OPERATOR LAYOFFS
Next Article:JACKSONVILLE FEDERAL PLACED UNDER GOVERNMENT CONTROL
Topics:


Related Articles
AMENDED COMPLAINT FILED IN GRACE TENDER FOR GRACE ENERGY MINORITY; PRELIMINARY INJUNCTION SOUGHT
MARRIOTT SETTLES WITH PREFERRED SHAREHOLDERS
KATY INDUSTRIES, INC. ANNOUNCES DECISION OF DELAWARE COURT
WILLIAMS ANNOUNCES SETTLEMENT OF LITIGATION IN TENDER OFFER FOR TRANSCO ENERGY
YPF S.A. ANNOUNCES MAXUS SHAREHOLDER LITIGATION AGREEMENT
COURT CLEARS WAY FOR ALLIANCE TO PROCEED WITH ITS TENDER OFFER FOR BALLY GAMING
Delaware Court Denies Stone Container Preferred Stockholders' Reinstated Request for Preliminary Injunctive Relief.
Life Technologies Announces Motion for Preliminary Injunction Denied With Respect to Dexter Tender Offer.
Court Decision Favors Damen Financial Corporation.
Decision In Favor Of NCS/Genesis Merger Stands As Delaware Courts Deny Request For Interlocutory Appeal.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters