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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Nov 13 4:00 PM EST
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To: Charles A. King who wrote (8371)1/5/1998 7:43:00 AM
From: Charles A. King  Read Replies (1) of 13091
 
The U.S. Department of Justice has requested more information on Safety-Kleen Corp's plan to be acquired for $27 a share by the newly formed buyout group. The company has also received a similar request from the department's Antitrust Division regarding a $30-a-share hostile takeover bid by Laidlaw Environmental Services Inc.

Because of the information request, the merger with SK Parent Corp, a buyout group formed by Philip Services Corp [NYSE:PHV] and affiliates of Apollo Management LP and Blackstone Management Partners III LLC, cannot take place until 20 calendar days after the requested information is supplied.

This could get to be interesting.

To reiterate my reason for keeping abreast of the LLE/SK story, LLE wants to make a hostile takeover of SK. I think the reason is that LLE is based at Columbia, SC, and is familiar with the GRNO story. Philip has made a friendly takeopver offer which SK management has accepted. LLE had to go to court to get SK to give them the SK shareholder list so that LLE could present their offer to shareholders before the takeover was consumated. I think LLE is important to GRNO's future and the more successful LLE is, the better it is for us. SK has a waste oil collection setup but hasn't been especially successful with their approach. That setup could be valuable to an entity that uses it with GRNO technology.

Charles
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