RE: $5 now or force higher bid. & in the globeManagement holds a total of 70% of the shares with two majority holders, and one minotity, this deal is done........as good as gold....written in rock...
Eicon Technology Corporation - In the News
Globe says Eicon soars on takeover talk
Eicon Technology Corporation EIC
Shares issued 33,812,105 2000-09-28 close $4.2
Friday Sep 29 2000 In the News
The Globe and Mail reports in its Friday, Sept. 29, edition that Eicon Technology shares jumped $1.30 to $4.20 on the Toronto Stock Exchange Thursday after the firm said it is in talks to be acquired by a Danish company. The Globe's Simon Tuck writes that Eicon, which makes high-speed Internet access products and other communications equipment, said it is negotiating a deal with i-data international a-s of Copenhagen that would see Eicon sold for $5 a share, a price that values the firm at $169.5-million. The all-cash deal, which follows Eicon's prolonged revenue and earnings slide, needs regulatory approval and at least two-thirds of the Canadian company's shares being tendered to the proposed buyer. Yorkton Securities analyst, Pierre-Yves Terrisse, said the proposed deal would be good for Eicon shareholders. Eicon has been struggling for more than a year, he said, ever since it underestimated the pace of growth in the North American digital subscriber line Internet access market. Mr. Terrisse said Eicon should find another buyer if the proposed deal with i-data falls through.