Stackpole (TSE:SKD) Automobile Parts from Powdered Metals Message Board

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Gold/Mining/Energy : Stackpole (TSE:SKD) Automobile Parts from Powdered Metals

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To: John Sladek who started this subject	4/30/2003 10:48:56 PM
From: John Sladek	Read Replies (1) of 12

Stackpole shares surge on news of takeover offer Wednesday April 30, 10:37 am ET (In U.S. dollars unless noted) TORONTO, April 30 (Reuters) - Investors sent shares of Stackpole Ltd. (Toronto:SKD.TO - News) to a new 52-week high on Wednesday after learning British engineering firm Tomkins Plc would buy the manufacturer of powertrain components for $227 million. ADVERTISEMENT Shares of Stackpole, the leading percent gainer in early trade, rose C$9.21, or 38 percent, to C$33.06 on the Toronto Stock Exchange (News - Websites). The proposed offer has the unanimous support of Stackpole's board, which recommends shareholders accept the offer. Tomkins said the C$33.25 per Stackpole share cash offer would be financed out of its existing cash resources and would add to its earnings per share in the current financial year. Stackpole, with about 1,500 employees in four facilities in Canada and one in Britain, is a leading manufacturer of powertrain components, primarily aimed at the original equipment makers. ($1=$1.45 Canadian) biz.yahoo.com

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