Replies to post #6321 on Veltex Corporation (VLXC)

[jhawk75]

I can't argue with that. It appears that the bold "completed" is a bold lie on the part of the company.

[SAMNOTSAMUEL]

Interesting.

"announced today that its subsidiaries, Veltex Apparel and Velvet Textile Mills, have completed the acquisition of KCA Garment Industries"

"Under the agreement, the cash portion of the acquisition will come from Velvet Textile Mills and KCA will receive VLVT common stock."

If the above 2 quotes are true from Feb 2004 and todays quote is also true, the answer would be I think the subsidiaries Feb 2004 were not wholly owned so KCA was not wholly owned.

Now KCA would be wholly owned by Veltex. Also interesting that the Mills put up cash while Veltex the corporation bought with shares, lack of cash.

sam