Printer Friendly

GENERAL SIGNAL ANNOUNCES PUBLIC OFFERING OF 1.8 MILLION SHARES OF COMMON STOCK, PRICED AT $62 PER SHARE

 STAMFORD, Conn., May 27 /PRNewswire/ -- General Signal Corporation (NYSE, PSE: GSX) announced today the public offering of 1,800,000 shares of its common stock at a price of $62. The company has granted the underwriters over-allotment options to purchase an additional 270,000 shares of stock.
 Net proceeds of approximately $123 million will be used to retire outstanding debt, bearing an effective interest rate of slightly more than nine percent, and for general corporate purposes.
 The offering was underwritten by managing underwriter Donaldson, Lufkin & Jenrette Securities Corporation and co-managed by The First Boston Corporation, Morgan Stanley & Co. Incorporated, Salomon Brothers, Inc., and Shearson Lehman Brothers Inc.
 General Signal is a leading manufacturer of equipment and instruments for the process control, electrical, and industrial technology industries. General Signal's common stock is listed for trading under the symbol "GSX" on the New York Stock Exchange and the Pacific Stock Exchange.
 The shares are offered only by means of a prospectus, and this announcement is neither an offer to sell nor the solicitation of an offer to buy. Copies of the prospectus may be obtained from the Prospectus Department, Donaldson, Lufkin & Jenrette, 140 Broadway, New York, New York, 10005.
 -0- 5/27/93
 /CONTACT: Nino J. Fernandez of General Signal, 203-329-4320/
 (GSX)


CO: General Signal Corporation ST: Connecticut IN: SU: OFR

SM -- NY019 -- 2801 05/27/93 09:11 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 27, 1993
Words:228
Previous Article:UNICO AMERICAN DECLARES CASH DIVIDEND
Next Article:COMPUSERVE ADDS MORE VALUE TO ITS BASIC SERVICES
Topics:


Related Articles
MEDIQ SUBSIDIARY, PCI SERVICES, INITIAL PUBLIC OFFERING ANNOUNCED
GENERAL SIGNAL OFFERS $100 MILLION CONVERTIBLE SUBORDINATED NOTES
BETHLEHEM STEEL ANNOUNCES OFFERING OF 12 MILLION SHARES OF COMMON STOCK
UNION TEXAS PETROLEUM SECONDARY OFFERING PRICED AT $18.25 PER SHARE
GENERAL SIGNAL COMPLETES OFFERING OF 1.8 MILLION SHARES COMMON STOCK
WORK RECOVERY INC. ANNOUNCES SHARE REPURCHASE PLAN
BEST POWER TECHNOLOGY, INCORPORATED TO BE ACQUIRED BY GENERAL SIGNAL CORPORATION
PRECISION AEROTECH REPORTS SECOND QUARTER RESULTS AND SIGNING OF LETTER OF INTENT TO BE ACQUIRED
American General Increases Investment in Western National
SPX Corporation Announces Results of Merger Consideration Elections In the General Signal Merger.

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