ElkCorp says BMCA has upped bid to 42 usd/shr |
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Published
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Fri, 19 Jan 2007 13:36
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NEW YORK (AFX) - ElkCorp, a manufacturer of roofing and building products, has confirmed that it has received a cash tender offer for 42 usd per share by an affiliate of Building Materials Corporation of America (BMCA).The company also noted that BMCA has terminated its previous tender offer of 40 usd per share.The Special Committee and the board will review the BMCA tender offer and make a recommendation to ElkCorp's shareholders.The board urges its shareholders not to take any action with respect to the BMCA offer until the board makes its recommendation.Earlier this week, Carlyle Group raised its takeover bid to 40.50 usd per share, from a previous offer of 38 usd per share. The new offer values the company at about 877 mln usd, plus the assumption of 173 mln in debt.newsdesk@afxnews.comjoyCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Carlyle raises offer for ElkCorp 