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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 2.100

+2.2%

Jan 21 3:59 PM EST

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To: Richard Russell who wrote (1720)	2/17/1998 9:11:00 AM
From: david james	Read Replies (2) of 2841

Dominion Bridge suitor quits talks By ROBERT GIBBENS For The Financial Post MONTREAL -OAmerican Eco Corp. said yesterday it will not pursue the acquisition of Dominion Bridge Corp. "until certain matters within Dominion are resolved." J.C Pennie, vice-chairman of American Eco, said if Dominion's board wants to reopen talks, then it would reconsider its position. "We're now interested in two other infrastructure construction-type businesses with which we could negotiate in a friendly manner," Pennie added. American Eco made a US$93-million offer, including an immediate cash injection of US$5 million, for all Dominion shares, but negotiations broke off Friday without an agreement. Terms for the departure of Dominion's management, led by Michel MarengSre, were one reason for the impasse, analysts said. Shareholder pressure is now building on the board to act independently of management, the analysts added. Dominion said it was going ahead with a share issue to Sweden's Sanda Investment Group to raise US$16 million to US$20 million in new funds. Nasdaq was closed yesterday for the U.S. President's Day holiday. Dominion shares (DBCO/NASDAQ) closed Friday at US$12 5/32, down 11/32. The 52-week range is US$2.50 to US$1. paddle4.canoe.ca;

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