Summary
L.B. Foster Co., a rail-industry supplier in Green Tree, sweetened its cash tender offer for Portec Rail Products Inc. on Tuesday and again extended the deadline for closing the deal to midnight Sept. 30.
Portec, O'Hara, in February agreed to merge into L.B. Foster in a $112 million deal worth $11.71 a share. Yesterday, L.B. Foster agreed to increase the offer to $11.80 a share, for a total of about $113 million. The company also agreed to pay Portec shareholders a fee of $2 million if the transaction does not close by Dec. 30. The deal has been extended six times.See the full content of this document
Extract
Foster Extends, Sweetens Portec Offer
It was delayed ...
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