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SECOM PREPARED TO MAKE OFFER FOR PARK-OHIO, SUBJECT TO NUMEROUS CONDITIONS

 SECOM PREPARED TO MAKE OFFER FOR PARK-OHIO, SUBJECT TO NUMEROUS
 CONDITIONS
 CLEVELAND, March 3 /PRNewswire/ -- Park-Ohio Industries, Inc. (NASDAQ: PKOH) announced today that it has received a letter from Secom General Corporation (NASDAQ: SECM) in which Secom said that it was prepared to offer $5.50 per share for all of Park-Ohio's outstanding common stock, subject to numerous assumptions and conditions, including the completion of due diligence. Secom said its offer was subject to adjustment based on its due diligence and the accuracy of its assumptions. Based on the assumptions in Secom's letter, a Secom offer, if one were to be made, could be at a price significantly less than $5.50 per share. Secom stated that its intention was to finance the transaction through NBD, N.A. (National Bank of Detroit), but did not provide any evidence of its ability to finance the transaction.
 Park-Ohio emphasized that there could be no assurances that Secom would actually propose a transaction, what price Secom might offer if it proposes a transaction, whether any of the conditions listed in Secom's letter could be met or whether Secom would be able to finance any such transaction.
 -0- 3/3/92
 /CONTACT: Harold A. Madorsky of Park-Ohio Industries, Inc., 216-991-9700; or William L. Dupuy of Edward Howard & Co., 216-781-2400, for Park-Ohio Industries, Inc./
 (PKOH) CO: Park-Ohio Industries, Inc. ST: Ohio IN: SU:


KK -- CL003 -- 4314 03/03/92 08:29 EST
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Publication:PR Newswire
Date:Mar 3, 1992
Words:237
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