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CertainTeed Corporation/Brunswick Technologies

  • Tuesday, 18th July 2000
  • Reading time: less than a minute

On Monday CertainTeed announced that the subsequent offering period has expired for its tender offer for the outstanding shares of Brunswick Technologies, Inc. at a price of $8.50 per share, in cash. CertainTeed now beneficially owns approximately 94% of BTI’s outstanding shares. All shares validly tendered during the subsequent offering period were accepted as tendered and have been, or will be, promptly paid for through the depositary for the offer. CertainTeed and BTI will now proceed with their previously announced merger pursuant to which CertainTeed will acquire the remaining equity interest in BTI. No further shareholder action will be required to approve the merger. As a result of the merger, each share of BTI common stock that was not tendered in the original tender offer period or the subsequent offering period will be converted into the right to receive $8.50 in cash, without interest, subject to dissenters’ rights. The merger is expected to be completed by mid-August.

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