Mabe Agrees to Buy Camco for C$70.4 Million

Controladora Mabe SA of Mexico agreed to buy Camco Inc., a Canadian maker of Hotpoint and GE brand washing machines and stoves, for about C$70.4 million ($57.8 million) to expand in Canada. Mabe offered C$3.52 a share for Camco, 53 percent higher than the July 22 closing price, Hamilton, Ontario-based Camco said in a statement. The transaction depends on 75.5 percent of the outstanding shares being tendered.

General Electric Co., Camco's biggest shareholder and an investor in Mabe, agreed to sell its 51 percent stake. GSW Inc., the second-biggest holder with 20 percent of the shares, hasn't said whether it will accept Mabe's offer, Camco said.

Full article. July 25 (Bloomberg)

(YHOO)

Comments

[User 1:]

Testing

2005 Oct 19 07:34 PM

[Dion Almaer:]

test 4

2006 Mar 16 02:19 PM

[Dion Almaer:]

test 5

2006 Mar 16 02:24 PM

[Dion Almaer:]

status 2

2006 Jun 13 11:38 PM

[Rob Sanheim:]

This is a test...

2006 Jul 10 08:20 PM

[Rob Sanheim:]

and another test.

2006 Jul 10 08:20 PM

[shmu:]

nostalgic :)

2008 May 12 08:28 AM