Shearhart Corporation (SHW) Home and Rural Message Board

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Gold/Mining/Energy : Shearhart Corporation (SHW) Home and Rural

SHW 345.64

+0.2%

9:30 AM EST

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To: Scott Mc who wrote (58)	10/26/1999 7:08:00 AM
From: Buckey	Read Replies (1) of 86

I guess this explains it all Shearhart Corporation - Shearhart shareholders to enter lock-up agreement Shearhart Corporation SHW Shares issued 9,011,360 1999-10-25 close $1.2 Tuesday Oct 26 1999 Mr. Robert Shearhart reports Shearhart Corporation had been advised by Midnorthern Appliance Industries Corporation that holders of approximately 66.4 per cent of Shearhart's outstanding shares had agreed to enter into lock-up agreements and to tender their shares to a formal takeover bid for 100 per cent of the issued and outstanding common shares of Shearhart to be made by Midnorthern for a purchase price of $1.65 per share payable in cash. The transaction is subject to certain conditions, including completion of due diligence, the entering into of formal documentation and receipt of certain regulatory approvals. Shearhart Corporation has engaged the investment banking firm of Global Capital Partners Inc. with respect to this transaction. For further information contact Kevin Wilson (416-977-1397) or Jonathan Edgett (416-977-1396) of Global Capital Partners Inc. Midnorthern Appliance, a privately held Canadian corporation, was founded in 1959 and for the past 40 years has been the industry leader in major home appliance sales to the new construction and property management trade. In addition, Midnorthern operates two retail stores in Toronto and has two franchise locations in St. Catherines and Niagara Falls. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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