Shearhart Corporation (SHW) Home and Rural Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

SHW 345.64

+0.2%

Nov 3 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Conky Lives! who wrote (83)	3/27/2000 9:55:00 PM
From: Conky Lives!	Read Replies (1) of 86

Shearhart Corporation and Midnorthern Appliance Inc. - Anticipate That Midnorthern Will Mail Its Offer To Shearhart Shareholders Toronto, Ontario - Monday, March 27, 2000, 4:27 PM EST Shearhart Corporation (CDNX : SHW) and Midnorthern Appliance Inc. announce that in connection with Midnorthern's previously announced take-over bid for 100% of the issued and outstanding common shares of Shearhart at a purchase price of $1.58 per share payable in cash, Midnorthern and Shearhart anticipate that Midnorthern will mail its offer to Shearhart shareholders on March 31, 2000 together with a recommendation from Shearhart's board of directors that shareholders accept Midnorthern's offer. Midnorthern's offer will be open for acceptance until May 1, 2000 and will be conditional upon at least 90% of the outstanding shares of Shearhart being deposited and not withdrawn from the offer. Shearhart has engaged the investment banking firm of Global Capital Partners Inc. with respect to this transaction. For further information contact Kevin Wilson (416-867-9099 Ext. 222) or Jonathan Edgett (416-867-9099 Ext. 223) of Global Capital Partners Inc. Shearhart operates 16 retail appliance stores across southern Ontario under the name "Home & Rural". Shearhart is Canada's leading independent retailer of appliances. Midnorthern, a privately held Canadian corporation, was founded in 1959 and for the past forty 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. On behalf of Shearhart Corporation: (signed) "Robert Shearhart" Name: Robert Shearhart Title: Chairman On behalf of Midnorthern Appliance Inc.: (signed) "Jordan Gnat" Name: Jordan Gnat Title: Executive Vice-President THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THIS NEWS RELEASE. Shearhart Corporation 2165 Williams Parkway East Brampton, Ontario L6S 6B8 Midnorthern Appliance Inc. 255 Steeprock Drive Toronto, Ontario M3J 2Z5

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next