Printer Friendly

NERCO SHAREHOLDERS APPROVE MERGER

 PORTLAND, Ore., May 14 /PRNewswire/ -- NERCO Inc. (NYSE: NER) announced that the proposal to merge with a wholly owned subsidiary of RTZ America Inc. (NYSE: RTZ), the parent company of Kennecott Corp., was approved at a special meeting of shareholders held today in Portland. Under the terms of the merger agreement, NERCO shareholders will receive $12.00 per share in cash in exchange for their NERCO common stock. Closing of the transaction is expected to occur in early June after the receipt of all remaining third-party consents and approvals.
 NERCO Inc. is a natural resource company with interests in low-sulfur coal, oil and natural gas. Approximately 82 percent of NERCO's common stock is beneficially owned by PacifiCorp (NYSE: PPW).
 -0- 5/14/93
 /CONTACT: John C. Cummings, 503-731-6649, or Richard T. O'Brien, 503-731-6732, both of NERCO/
 (NER RTZ PPW)


CO: NERCO Inc.; RTZ America Inc.; Kennecott Corp.; PacifiCorp ST: Oregon IN: OIL SU: TNM

LM -- SE015 -- 8842 05/14/93 17:35 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 14, 1993
Words:163
Previous Article:ASHLAND OIL TO REDEEM SINKING FUND DEBENTURES
Next Article:NORTHWEST POWER PLANNING COUNCIL CALLS FOR REDUCTION IN BTU TAX ON HYDROPOWER AND ANNOUNCES BUDGET CUTS
Topics:


Related Articles
NERCO MAKES MANAGEMENT CHANGES
NERCO INC. REPORTS FOURTH QUARTER, 1991 YEAR-END RESULTS, 1992 OUTLOOK
NERCO BOARD DECLARES REGULAR DIVIDEND
NERCO ANNOUNCES BOARD AND MANAGEMENT APPOINTMENTS
NERCO BOARD DECLARES REGULAR DIVIDEND
NERCO AGREES TO SELL NATURAL GAS FIELD
NERCO AGREES TO SELL NATURAL GAS FIELD
NERCO ANNOUNCES SUCCESSFUL OIL & GAS DISCOVERY; OIL PRODUCTION BEGUN AT VERMILLION 412 FIELD
WESTERN GAS RESOURCES ANNOUNCES PURCHASE OF BLACK LAKE PLANT
Anadarko and Union Pacific Resources Shareholders Vote to Approve Merger Transaction.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters