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Article: Brookstone, developers amend proposed merger deal.
- Article from:
- Telegraph (Nashua, NH)
- Article date:
- July 19, 2005
CopyrightCOPYRIGHT 2005 The Telegraph. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Karen Spiller
Jul. 19--MERRIMACK -- Brookstone Inc. and the group of developers buying the specialty retailer have amended the terms of its proposed $432 million merger, and will offer shareholders less money per share, according to the company.
Under the new terms of the amended agreement, each outstanding share of Brookstone's common stock will be converted into the right to receive $20 in cash. Formerly, shareholders would have received $20.50 a share.
The change in stock price is due to Brookstone's lagging financial performance as the deal continues to progress, according to Brookstone officials.
OSIM International, a ...