Ballard Power -world leader zero-emission PEM fuel cells Message Board

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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells

BLDP 2.330

-6.4%

3:59 PM EST

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To: Brian Hutcheson who wrote (763)	6/12/1997 9:09:00 AM
From: Don Beals	of 5827

From Toronto Globe and Mail June 1`2 Ballard shares suffered a power outage yesterday after chief executive Firoz Rasul denied rumors of a takeover by either GM or daimler Benz. Shares of the company rose a total of $4.10 Monday and Tuesday, and analysts said takeover rumors might have beenthe reason. "We have not been contacted", Mr Razul told Dow Jones when asked about a takeover. "There's no basis to these rumors. These rumors don't make sense." Ballard shareholders approved Daimler taking a 25% stake in the company last month, and Mr Razul said the auto maker would have taken control of the company then if had wanted to do so. Ballard is working with GM on 2 projects, but Mr. Razul said he faound a takeover from that direction unlikely as well. The Mercedes deal has helped propel Ballard to a return of 55.5%, a gain that is especially notable given that the company has yet to report any earnings. Volume yesterday was 247097 which is about 5.5 times the daily average.

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