THE HENLEY GROUP COMMENCES SECONDARY OFFERING
THE HENLEY GROUP COMMENCES SECONDARY OFFERING HAMPTON, N.H., March 18 /PRNewswire/ -- The Henley Group, Inc.
(NASDAQ: HENG) today commenced the previously reported secondary offering of its remaining 6.5 million shares (43.3 percent) of Fisher Scientific International, Inc. common stock (NYSE: FSH) at $21.875 per share. The shares will be sold in simultaneous offerings in the United States and abroad.
The First Boston Corporation, Donaldson, Lufkin & Jenrette Securities Corporation, Lazard Freres & Co. and Smith Barney, Harris Upham & Co. Incorporated are the underwriters for the U.S. syndicate offering 5.2 million shares. Credit Suisse First Boston Limited, Donaldson, Lufkin & Jenrette, Lazard Brothers & Co., Limited and Smith Barney are the managers of the international offering of 1.3 million shares. Under the previously announced Henley recapitalization plan, the proposed $250 million cash distribution to Henley shareholders will be increased by $6.5 million, the amount by which the net proceeds of the offering exceed $20 per Fisher share. The total cash distribution would be $256.5 million. Among other provisions, the proposal calls for a merger of Henley Group with Henley Properties Inc., a transaction now under consideration by the board of directors of Henley Properties. Fisher Scientific, the oldest and largest supplier of instruments, equipment and other products to the scientific community in North America, was a wholly owned Henley subsidiary until 8.5 million of its 15 million common shares outstanding were sold in an initial public offering last December. Henley develops and manufactures aerospace and industrial products and has interests in other businesses. -0- 3/18/92 /CONTACT: Norman Ritter of the Henley Group, 603-929-2322/ CO: The Henley Group ST: New Hampshire IN: ARO SU: OFR
TM-SH -- NE003 -- 9101 03/18/92 09:35 EST
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|Date:||Mar 18, 1992|
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