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Microcap & Penny Stocks : Value Holdings (VALH) -- Ignore unavailable to you. Want to Upgrade?

To: InOverMyHead who wrote (452)	7/28/1999 12:05:00 PM
From: Bidder	Read Replies (1) \| Respond to of 1152

IOMH, how about this scenario? Change the headline to Network forest!! Company Press Release Forex Receives an Offer From Boise Cascade Corporation MONTREAL, QUEBEC--LE GROUPE FOREX INC. (''FOREX'') has received an offer from Boise Cascade Corporation [NYSE:BCC - news] for the acquisition of all the shares of Forex. The offer provides for an arrangement to be approved by the Sharedolders of Forex, pursuant to which all holders of Forex shares would receive, at their option, the following consideration per share, in any combination thereof: a) $30 cash to be paid by the retraction of a new class of Forex Shares to be created; b) $30 in installment notes payable over 5 years with interest ; or c) $31 payable by the issuance of a new class of Forex shares to be created, which will be exchangeable into Boise Cascade Corporation Common Stock. On July 27th, the Board of Directors of Forex met in order to consider the Boise Cascade offer. Following a recommendation of its independent committee, the Board of Forex determined that the Boise Cascade offer is superior to the $26 offer made by Louisiana-Pacific Corporation [NYSE:LPX - news]. The offer from Boise Cascade is open for acceptance until August 9, 1999 and is subject to certain conditions including the execution and a support letter with the controlling group of Forex's Shareholders and of a combination agreement with Forex providing among other things the support of the transaction by Forex and its Board of Directors. Drafts of these agreements have been provided to Forex and they both provide for the ability for Forex and its controlling group to consider any further new acquisition proposal so long as it is superior to the Boise Cascade offer and subject to a penalty of $28 million payable to Boise Cascade. In accordance with the agreements executed with Louisiana-Pacific, Forex has provided L-P with a copy of the Boise Cascade offer. Louisiana-Pacific is entitled to a 5 business-day period to amend its own offer to match or better the consideration offered by Boise Cascade in which event the lock-up and support agreements previously signed by Forex and its controlling group with L-P will remain in force and prevent Forex and its controlling group from entertaining the Boise Cascade offer. Forex is a leader in the OSB panel industry; it is the largest manufacturer in Canada and the fourth largest in the world. The shares of Forex are listed on the Montreal Exchange under the symbols FOX.A and FOX.B and its convertible debentures under the symbol FOX.DB. -------------------------------------------------------------------------------- Contact: Le Groupe Forex Inc. Jacques Dalpe Vice President, Public and Legal Affairs (514) 861-4841 www.forex.qc.ca -------------------------------------------------------------------------------- More Quotes and News: Boise Cascade Corp (NYSE:BCC - news) Le Groupe Forex Inc (Montreal:FOXa.M - news; Montreal:FOXb.M - news) Louisiana-Pacific Corp (NYSE:LPX - news) Related News Categories: paper/forrest