Meridian shareholder plans to challenge takeover price

Article Abstract:

Meridian Technologies Inc.'s minority shareholder Global Strategy Investment Funds (GSIF) intends to ask the court to require Teksid SpA and Norsk Hydro Produksjon AS to pay more than C$11 per share for their 44% stake in Toronto, Ontario-based Meridian. The minority shareholder said that C$11 is at the low end of the price range recommended by RBC Dominion Securities Inc. GSIF said that the reasonable price would have been C$13 or C$14. John Sartz, vice president of investments at GSIF, said that they are ready to accept a price lower than C$13 or C$14 but not as low as C$11. GSIF will ask the court to fix a fair value for the shares. David Jackson, lawyer for Meridian, and Elvio del Sorbo, however, said that the consolidation was in accordance with the laws and regulations.

Comment:

Is to face challenge for the C$11 per share it paid together with Teksid SpA for 44% stake in Meridian Technologies

Legal issues & crime, Chemicals & Allied Products, Chemical Manufacturing, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Open-End Investment Funds, Norway, Investment Funds & Trusts, Stockholder data, Chemicals, Automotive parts, Meridian Technologies Inc., Teksid S.p.A., Norsk Hydro Produksjon A/S, Global Strategy Investment Funds

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Husky Injection plans initial public offering

Article Abstract:

Husky Injection Molding Systems Ltd., a designer and manufacturer of injection molding machines, molds and other equipment for the automative and other industries, has announced it will conduct an initial public offering. The offering, which will be handled by a group led by Scotia Capital Markets and TD Securities Inc., is expected to raise approximately $200 million. Husky Injection, which maintains production plants Milton, VT, Bolton, Ontario and Luxembourg, Germany, has an annual revenues of approximately C$600 million.

Comment:

Announces it will conduct an initial public offering

Organizational history, Plastics Products Equipment, Machinery industry, Plastics industry, Plastics machinery, Husky Injection Molding Systems Ltd.

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Husky Injection issues profit warning

Article Abstract:

Husky Injection Molding Systems Ltd has announced that its profit for FY1999 will be around 20 to 30 cents per share, far below the analysts' forecast of 48 cents. The company attributed the low earnings to its lower sales resulting from Brazil's curreny devaluation, the Asian economic crisis and overcapacity in Europe. The company is a supplier of machines that mold plastic soda pop bottles, housings for cellphones and plastic automotive parts.

Canada, Sales, profits & dividends, Plastics Molding Machines, Husky Injection Molding Systems Inc.

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