Anyone here doing arb on canadian stocks?
Here are some of my recently done plays:
TSE:MSS (cash deal, friendly takeover, nice returns)
TSE:MWK (cash deal, friendly takeover, returns diminished by cdn/us dollar exchange)
Am currently in:
TSE:IUN (bought after 90% acquisition, guaranteed returns)
SIMW
ASE(Alberta):SHW (today, 65% lockup, cash deal)
Here's a U.S. deal for tomorrow (cash, friendly takeover):
HAMILTON, Bermuda and TUALATIN, OR, Oct. 26 /CNW/ -- Tyco
International Ltd. (NYSE: TYC, LSE: TYI, BSX: TYC), a diversified
manufacturing and service company, and Praegitzer Industries, Inc.
(Nasdaq: PGTZ), a leading designer and manufacturer of complex printed circuit
boards, announced today that they have entered into a definitive Merger
Agreement pursuant to which Tyco will acquire, for cash, all of the
outstanding common shares of Praegitzer at a price of $5.50 per share.
"Praegitzer is an excellent fit with the Tyco Printed Circuit Group
(TPCG). First, the combination of Praegitzer's volume commercial production
facilities with ours creates solid opportunities in the data networking and
telecommunications markets. Second, the addition of Praegitzer's quick-turn
capability clearly positions TPCG as the leader in this attractive market.
Finally, Praegitzer's design centers will enhance our ability to provide
advanced circuit board design support for the newest generation of electronics
from our Tyco Submarine Systems undersea telecommunications business," said L.
Dennis Kozlowski, Tyco's Chairman and Chief Executive Officer. Mr. Kozlowski
also noted that the acquisition will provide an immediate positive
contribution to Tyco's earnings.
"After a review of possibilities, the Praegitzer Board of Directors
determined that being acquired by Tyco was the best course of action for our
shareholders, employees and customers," stated Matt Bergeron, president and
chief operating officer of Praegitzer Industries, Inc. Bergeron continued,
"Our operations, enhanced by Tyco's financial strength and breadth of product
offerings, will provide a stable environment and exciting opportunity for
Praegitzer employees, suppliers and customers. In addition, the combination
of Praegitzer Industries and Tyco International will create one of the world's
foremost global printed circuit board design and manufacturing companies.
Together we can provide our customers with a more comprehensive range of
integrated solutions to accommodate the rapid growth of the technological
adept interconnect market on a global basis."
Under the Agreement, a subsidiary of Tyco will shortly commence a tender
offer to purchase all of Praegitzer's 13,129,751 shares of common stock for
$5.50 per share in cash, for a total of approximately $72 million. The tender
offer will be followed by a merger in which each of the remaining shares of
Praegitzer will be exchanged for $5.50 in cash.
The offer will be made pursuant to definitive offering documents to be
filed with the Securities and Exchange Commission. The offer is conditioned
on the tender of a majority of the outstanding shares of common stock on a
fully diluted basis, as well as certain other conditions.
Tyco International Ltd., a diversified manufacturing and service company,
is the world's largest manufacturer and servicer of electrical and electronic
components and undersea telecommunications systems, the world's largest
manufacturer, installer, and provider of fire protection systems and
electronic security services, has strong leadership positions in disposable
medical products, plastics, and adhesives, and is the largest manufacturer of
flow control valves. The Company operates in more than 80 countries around the
world and has expected fiscal 2000 revenues in excess of $25 billion.
Praegitzer Industries, Inc., founded in 1981, is a leader in providing
electronics original equipment manufacturers and contract manufacturers with a
full range of printed circuit board and interconnect solutions. Praegitzer has
four fabrication facilities, as well as, design centers serving customers in
four key electronics industry segments: data and telecommunications; computer
and peripherals; industrial and instrumentation; and, business and consumer.
It is a publicly traded company with annual sales of over $200 million and
more than 1,700 employees. For more information on Praegitzer Industries,
Inc., visit www.pii.com.
FORWARD LOOKING INFORMATION
Comments in this release concerning Tyco's expected fiscal 2000 revenues,
expected earnings contribution from the acquisition of Praegitzer, the growth
of the interconnect market and the stability of the environment created by the
acquisition are forward-looking statements, which are based on management's
good faith expectations and belief concerning future developments. Actual
results may materially differ from these expectations as a result of many
factors, relevant examples of which are set forth in the "Management
Discussion and Analysis" section of the Tyco's 1998 Annual Report to
Shareholders and the Tyco's 1998 Annual Report on Form 10-K and in
Praegitzer's 1999 Annual Report on Form 10-K.
CONTACT: J. Brad McGee, Senior Vice President of Tyco International (US)
Inc., 603-778-9700, or Gina O'Neill, Director of Investor Relations,
503-454-6059, or Matt Bergeron, President and COO, 503-454-6066, both of
Praegitzer Industries, Inc.
-30-
For further information: J. Brad McGee, Senior Vice President of Tyco
International (US) Inc., 603-778-9700, or Gina O'Neill, Director of Investor
Relations, 503-454-6059, or Matt Bergeron, President and COO, 503-454-6066,
both of Praegitzer Industries, Inc.
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 897850
/Web site: pii.com
/Web site: tyco.com |
