Grifco Inc (GFCI)

[iusedtobehim]

Lyamec in Agreement With Grifco on $2.25 Per Share OfferadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articleGRIFCO INTERNATIONAL INC(GFCI) Quote, Chart, News


All PRNewswire NewsLONDON, July 7 /PRNewswire/ -- Lyamec announces that it has reached an agreement with Grifco (Pink Sheets: GFCI) to move on the USD $2.25 per share offer: "We look forward to receiving fully executed documents in the upcoming days, and look forward to move to closing." Lyamec states acquisition initiatives on the 5 year outlined USD $76.5 Million GPC approved Libya facility entails an additional premium of USD $28 Million to be paid directly to Lyamec. In a statement by Interim CEO RG Raymond, "Clearly, it would be an unwise decision on anyone's part to perceive that any offering to acquire a majority stake of Grifco at this stage will lead to leveraging their position on the Libya facility without our approval, regardless of Grifco's current assets and or commercialized tools and products. Notwithstanding this, Grifco is now to resume consolidating its assets for closing."


http://news.moneycentral.msn.com/category/topicarticle.asp?feed=PR&Date=20060707&ID=5851822&...