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Article: Steel Partners Japan Proposes Tender Offer for Bull-Dog Sauce Co. Ltd.
- Article from:
- Business Wire
- Article date:
- May 16, 2007
CopyrightCOPYRIGHT 2007 Business Wire. 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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TOKYO -- Steel Partners Japan Strategic Fund (Offshore), L.P. (the Fund) today delivered a letter to the management of Bull-Dog Sauce Co. Ltd. (the "Company") (TSE:2804) stating that the Fund intends to commence a tender offer for all of the outstanding shares of the Company that the Fund does not already own at Y=1,584 per share. The offer would represent a 20 premium over Company's share price at the close of trade on May 14. The Fund, along with its affiliates, is the largest single shareholder of Bull-Dog Sauce Co. Ltd., owning 10.15 of the Company's outstanding shares.
In the letter, Warren Lichtenstein stated, "Our offer will provide your existing ...