Carol's Link says...
If this is correct...they would be paying $1.30 per share? Any thoughts on this? That would make me fatter than I already am!
EDIT: Excuse me...I mean 15mm/23mm shares = $.65/share. Still good!
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(April 9, 1998)- Scottsdale, Arizona - A source close to SCTI management discloses that SC&T International, Inc. (OTC BB: SCTI) has signed a letter of intent to become a subsidiary of D&H Distributing Company, a $375 million
privately held company that is one of America1s largest distributors of microcomputers and peripheral products. D&H, a company of Harrisburg Pennsylvania, will pay $30 million to buy all the outstanding shares (about 23 million shares) of SCTI for this acquisition. After NOL tax loss
and cash that SCTI has, D&H will actually pay $15 million. Mr. Copland, CEO of SCTI is excited about the merger. 3We are pricing our products and develping new products to dominate the retail market categories we are in,"says Mr.
Copland. 3And with D&H as our parent company, we will be able to gain an entrance into D&H's 4,000-plus dealer network nationwide - something we could not have done on our own". Mr. Greenwald, D&H's VP of marketing believes "D&H has found a best way to go public. In addition, SCTI
had $7.5 million revenues in the fiscal year of 1998 and will have more than $20 million revenues in fiscal year of 1999. This merger reflects a new strategy adopted by D&H management that combining both manufacturing and distributing under one entity will significantly improve the company profit margins". |
