Bodycote International PLC
18 January 2001
BODYCOTE INTERNATIONAL PLC COMPLETES TENDER OFFER
FOR LINDBERG CORPORATION
Bodycote International plc ('Bodycote' or 'the Company')
announces that it has completed its $18.125 per share
cash tender offer for the outstanding common shares of
Lindberg Corporation ('Lindberg') and has accepted for
payment 5,509,750 shares, or approximately 97.3 per cent.
of the outstanding Lindberg shares.
The tender offer was made pursuant to a merger agreement
between the Company, Bodycote Investments VI (a wholly
owned subsidiary of the Company) and Lindberg. Under the
terms of the merger agreement, the remaining Lindberg
shares will be converted in a merger into the right to
receive the $18.125 per share amount paid in the tender
offer. The Company intends to complete the merger of its
subsidiary into Lindberg within a week.
The combination of Lindberg's and Bodycote's North
American commercial heat treatment operations provides
North American industry with a more extensive
metallurgical services group from an enlarged network of
63 plants, which provides a more viable alternative for
clients operating in house facilities. Bodycote's North
American management team is now working on integrating
the operations of Bodycote and Lindberg to ensure the
full benefits of the acquisition are realised.
Enquiries:
Bodycote 01625 505 300
John Chesworth, Managing
Director
David Landless, Finance
Director
Dresdner Kleinwort 020 7623 8000
Wasserstein
Chris Treneman
Financial Dynamics 020 7831 3113
Scott Fulton
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