Bell Industries Receives Unsolicited Proposal from Zeff Capital Partners; Announces That It Has Been Reviewing Strategic Alterna
2005年9月8日 - 8:20PM
ビジネスワイヤ(英語)
Bell Industries, Inc. (AMEX:BI) said today that it received an
unsolicited proposal from Zeff Capital Partners, LLC to acquire
100% of the company's outstanding common stock for a price of $2.55
per share in cash. In accordance with its fiduciary duties, the
Board of Directors considered the proposal and concluded that the
proposal was inadequate from a financial point of view and not in
the best interests of the company or its shareholders. Bell
Industries also announced that it has previously engaged investment
bankers to advise its Board of Directors regarding strategic
alternatives for the company in order to maximize shareholder
value. About Bell Industries, Inc. Bell's primary business, the
Tech.logix Group, offers a comprehensive portfolio of technology
products and managed lifecycle services, including planning,
product sourcing, deployment and disposal, and support services.
Support services include help desk support, desk side support,
technical maintenance services, and reverse logistics and depot
services. Bell also distributes after-market parts and accessories
to the recreational vehicle market and manufactures and sells
standard and custom magnetic components used in electronic
applications for computer, medical, lighting and telecommunication
equipment. Forward-Looking Statements Statements in this press
release may be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements are based on current expectations, estimates and
projections about the company's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above and those
risks discussed from time to time in the company's filings with the
Securities and Exchange Commission, including Factors That May
Affect Future Results of Operations included in the Form 10-K for
the year ended December 31, 2004 and Management's Discussion and
Analysis of Financial Condition and Results of Operations in the
Form 10-K for the year ended December 31, 2004 and the Form 10-Q
for the quarter ended June 30, 2005. In addition, general industry
and market conditions and growth rates, and general economic
conditions could affect such statements. Any forward-looking
statements speak only as of the date on which they are made, and
the company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this release.
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