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Non-Tech : IMPCO Technologies (IMCO), formerly AirSensors (ARSN) -- Ignore unavailable to you. Want to Upgrade?

To: Elvis Jones who wrote (170)	9/8/1999 1:00:00 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 298

Here is the info as reported by the WSJ($) site: DJ German Firm Offers To Acquire Impco Tech For $14/Shr>IMCO WASHINGTON (Dow Jones)--BERU AG is offering to acquire Impco Technologies Inc. (IMCO) for $14 a share, Federal Filings Business News reported. According to a Schedule 13D filing, BERU's offer represents an approximate 28.7% premium over the closing price of Impco's stock on Sept. 3 of $10.88 a share. BERU also noted that its offer price would reflect a 36.1% premium over the average closing of Impco stock over the last two weeks. Moreover, the transaction would enable Impco's shareholders to receive cash for all of their shares of common stock. BERU's Sept. 7 letter to Impco's board stated that if the two companies combine, management would among other things expand Impco's R&D activities and enlarge its product line; expand further Impco's Material Handling Division and OEM applications; increase Impco's globalization through BERU's international presence; maintain Impco's present plant locations, while increasing the cooperation among the current divisions; and consider additional acquisitions in the gaseous fuel business to strengthen Impco's ability to compete worldwide. BERU, which last reported ownership of 14.9% in Impco, stated that it would appreciate hearing a response from the company's board after its Sept. 13 meeting. ++++++++ This certainly was not an out of the blue offer. At first thought, I'm not in favor of the purchase (price wise). While BERU has a bigger global name in the auto field, IMPCO has almost a lock on the "gas as fuel" biz. I would like to see a higher price given the yet untapped potential in IMPCO. I would like to read the 13D filing. Not sure how the anti-takeover provisions will play into this. I looked at the press release recently, but do not recall the details. Jim