LAND O'LAKES COMPLETES MERGER OF COUNTRY LAKE FOODS
LAND O'LAKES COMPLETES MERGER OF COUNTRY LAKE FOODS MINNEAPOLIS, Nov. 13 /PRNewswire/ -- Land O'Lakes, Inc. announced
today that it has completed the merger of its wholly owned subsidiary, LOL Acquisition Company Subsidiary, with Country Lake Foods Inc. (NASDAQ: CLFI) following its successful tender offer which resulted in Land O'Lakes owning 99.4 percent of the common stock of Country Lake Foods. The merger, under which Country Lake Foods becomes a wholly owned subsidiary of Land O'Lakes, was accomplished today through a short-form merger filing in Delaware.
Land O'Lakes said it had paid for 1,227,367 shares of Country Lake stock, and that payment will be made this week for the remaining 176,010 shares which were tendered under notices of guaranteed delivery. Holders of 27,623 shares who did not tender under the offer will be notified by mail that they are entitled to receive payment of $15.30 per share under the merger agreement, Land O'Lakes said. Land O'Lakes is a major agribusiness/food cooperative headquartered in Arden Hills, Minn. Country Lake Foods, headquartered in Minneapolis, produces and distributes fresh packaged milk, ice cream, other dairy products and fruit juices in a six-state Midwest region. -0- 11/13/91 /CONTACT: Terry Nagle of Land O'Lakes, 612-481-2271 or Tim Martin of Country Lake Foods, 612-851-1260, or Curt Swenson of Swenson/Falker Associates Inc., 612-371-0000, for Land O'Lakes/ (CLFI) CO: Land O'Lakes, Inc.; Country Lake Foods Inc. ST: Minnesota IN: FOD SU: TNM JT -- NY004 -- 3789 11/13/91 09:15 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 13, 1991|
|Previous Article:||FINANCE COMPANY AGREES TO REFUND $35,000 TO MOBILE HOME BUYERS|
|Next Article:||OAK INDUSTRIES REPORTS THIRD-QUARTER RESULTS; COMPANY'S TURNAROUND CONTINUES|