Schneider board won't endorse bid

Article Abstract:

Schneider Corp.'s board of directors will not recommend what the company's shareholders should decided on over the proposed acquisition of Smithfield Foods Inc. The company's board and senior officers already intend to accept the Smithfield offer, but the board refused to endorse the offer to other shareholders. The Kitchener, Ontario-based Schneider family also announced to tender its controlling stake in the company to the offer of Smithfield of Norfolk, VA. Under the terms of the bid, Smithfield is offering 0.5415 of an exchangeable share of subsidiary Smithfield Canada Ltd. for every Schneider share, giving Schneider a value of about C$127 million.

Comment:

Its board of directors will not endorse what other shareholders should do over the proposed acquisition by Smithfield Foods Inc

Groceries & Rel Prods Whsle, Grocery and Related Product Wholesalers, Ontario, Schneider Corp.

---

MD, Templeton to combine funds

Article Abstract:

MD Funds Management Inc. has signed a letter of intent to consolidate its MD Emerging Markets Fund with the Templeton Emerging Markets Fund. Pending on approval by unitholders of the MD Emerging Markets Fund, and on the signing of a definitive agreement, the merger of the two funds will be effective on December 30, 1998. The agreement will sell the assets of the C$32-million MD Emerging Markets Fund to the C$612-million Templeton Emerging Markets Fund. In turn, Templeton Emerging Markets Fund will provide mutual fund units to MD Emerging Markets Fund.

Comment:

Has signed a letter of intent to consolidate its MD Emerging Markets Fund with the Templeton Emerging Markets Fund

Canada, Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds, MD Funds Management Inc.

---

Similar abstracts:

• Abstracts: Online bulletin boards: friendly places to hang out and gab. Electronic bulletin boards need editing. No they don't; free-speech issues at the speed of light
• Abstracts: Security of tenure. Textiles given a new spin. Low-paid window dressing
• Abstracts: No other hoard like Davy Jones'. Vintage red turns heads. Money spinners
• Abstracts: Inquiry slated on contracts. Companies scramble to meet currency compliance. Forensic firm aims to be No. 1 with a bullet
• Abstracts: Implant suit settled for $3.2B. Firm fined $1.5M over tainted juice. Bank chief says workers used poor judgment

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.