Printer Friendly

Seafield Capital Corporation announces the engagement of an investment banker to consider strategic alternatives.

KANSAS CITY, Mo.--(BUSINESS WIRE)--Feb. 10, 1995--Seafield Capital Corporation (Seafield) announced today that it has retained Alex. Brown and Sons Incorporated as financial advisor to assist the Company in considering strategic alternatives to maximize shareholder value.

Seafield is a holding company that owns 82% of LabOne, Inc. (NASDAQ - "LABS") and 59% of Response Technologies, Inc. (ASE - "RTK") as well as a number of other investments and cash equivalents. LabOne, Inc. is the nation's leading insurance laboratory testing company and Response Technologies, Inc. is a prominent cancer treatment company with over 30 treatment centers.

One alternative that the Company expects to pursue is a cash-option merger of Seafield into LabOne. In this regard, the Company has made an initial presentation to LabOne's Board of Directors. In such a merger, Seafield shareholders may have the option of receiving cash as well as shares of LabOne. Such a merger would likely be preceded by Seafield's distribution to shareholders, or other disposition by Seafield, of its Response stock and other assets. If a definitive agreement with LabOne is reached, it is anticipated that such a merger would not occur until the early part of 1996 because of the time required to complete anticipated asset sales as well as shareholder and other approvals.

Seafield's Board also will consider other business combination proposals that are presented to it. Seafield cautioned that there can be no assurances that either a merger with LabOne or any other business combination will occur.

CONTACT: Seafield Capital Corporation, Kansas City

Jim Seward, 816/842-7000
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 10, 1995
Previous Article:Gatorade debuts new ad campaign with new attitude.
Next Article:LabOne makes announcement.

Related Articles
Interest stripping regulations create unexpected affiliated groups.
How to raise capital, privately.
Capital needs in the '90s.
Seafield Capital Corporation reports 1994 year-end results.
American Recreation Centers Inc. retains Allen & Company Inc. as investment bankers.
Strategies for improving credit access: A study by the FEI research foundation finds that credit is once again the key product that companies seek...
Documenting deductions for investment banking fees.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters