AMHERST, N.Y. (Aug. 7)—The board of Mark IV Industries Inc. filed a proxy statement Aug. 4 with the Securities and Exchange Commission, calling a special shareholder meeting Sept. 7 to vote on the company´s proposed purchase by MIV Acquisition Corp. Mark IV said early in June MIV, an affiliate of BC Partners, had offered to pay $23 per share, or $1.05 billion, and assume $950 million in debt. At that time, Gabelli Asset Management Inc., Mark IV´s largest shareholder with 20 percent of outstanding stock, said it thought any offer should have been north of $30 per share. Mark IV´s board of directors voted in favor of the sale after the company´s four-year effort to boost its stock price failed.
Mark IV sets date for shareholder vote on sale of company
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].