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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Dorros who wrote (1611)	2/7/1998 10:28:00 AM
From: Peter Haynes	Respond to of 2841

From the Yahoo board: Subj: ECGOF offers $93M for DBCO By: cansteel Date: Feb 7 1998 5:55 A.M PST Reply To: Msg. 201 by brogers611 Here is copy of article from Financial Post. If I understand correctly ECGOF has offered $93M for DBCO. This works out to $3.00/share based on 31M shares unless there is other details missing. Dominion Bridge deal delayed again By ROBERT GIBBENS For The Financial Post MONTREAL - American Eco Corp., the U.S. construction group, said on Friday confirmation of acceptance of its US$93-million offer for embattled Dominion Bridge Corp. has been delayed again. "We're still evaluating the situation, but we expect to issue a release, hopefully, next week," said Cindy Jackson, director of investor relations for the Houston-based company, which is listed on the Toronto Stock Exchange. In Montreal, Dominion's chief operating officer Nicolas Matossian said he could not say if or when a statement about the American Eco bid or a rival offer from Roxco Ltd., another U.S. construction group, might be made. He declined to comment on market reports two Dominion directors resigned this week, leaving the board's independent members in the majority. Dominion shares (DBCO/NASDAQ) fell back 3/32 to US$2 1/32 Friday. They had risen on expectation the American Eco bid would be confirmed publicly after last Tuesday's Dominion board meeting in Montreal. Dominion is incorporated in Delaware but run from Montreal. American Eco was to come up with US$5 million by late Friday and a further US$25 million on signing of a definitive agreement to ease Dominion's cash squeeze. Sources near the negotiations said further legal hurdles had arisen. Under the bid, American Eco chairman Michael McGinnis would lead a radical shakeup of Dominion's senior management, now led by chief executive Michel MarengŠre.