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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Jan 7 4:00 PM EST
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To: Hawkmoon who wrote (8811)2/23/1998 4:26:00 PM
From: Charles A. King   of 13091
 
Well, thank you, guys.

For a little more information about the Safety Kleen buyout saga, we go to Canada where Philip is being taken to court by a shareholder lawsuit. SK's management approved a friendly takeover bid by Philip and have been fighting Columbia-based LLE's hostile offer, even though it was blessed by Institutional Shareholders Services. SK's management has been trying to tell its shareholders that Philip would make a better stock to hold instead of LLE's. But this is what is being reported by Reuters.

Canada's Philip Services Corp. faces a challenge bigger than its proposed $1.5 billion takeover of U.S. company Safety-Kleen Corp.
winning back shareholder confidence after being slapped with seven U.S.-based stockholder lawsuits. Philip spokeswoman Linda Kuhn said the Hamilton, Ontario-based waste management firm was facing a slew of
lawsuits claiming that company officials had inflated third-quarter earnings and inventory, hoping to spur interest in a 23 million share offering in November at $16.50 a share.

newsalert.com

The above is the first part of a long but interesting release. SK's latest schedule calls for the stockholders to vote on Wednesday, but it remains to be seen whether they will postpone it again, hoping for a last minute reprieve.

Charles
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