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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Rory McLeod who wrote (5939)	7/14/2003 11:00:25 AM
From: Rory McLeod	Read Replies (1) \| Respond to of 6016

TORONTO, July 14 (Reuters) - An unsolicited offer on Monday to buy Global Thermoelectric Inc. (Toronto:GLE.TO - News), which the company calls superior to a bid from Quantum Fuel Systems Technologies Worldwide Inc. (NasdaqNM:QTWW - News), sent investors racing to grab its stock. Shares of Calgary-based Global jumped 36 Canadian cents, or 11.7 percent, to C$3.42 on the Toronto Stock Exchange (News - Websites). And with more than 270,000 shares changing hands by mid-morning, Global was on pace for its highest trading day since the Quantum offer about three months ago. Global, which makes power-generation products, said it will start negotiations with the unnamed company as soon as a confidentiality agreement is reached. In April, Quantum said it would acquire Global in a stock swap valued at about $75 million. Under the Quantum offer, Global shareholders would receive between 0.835 and 1.020 shares of Quantum stock for each share of Global common stock outstanding. ($1=$1.37 Canadian)