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Article: ATC Group Services Makes Announcement.
- Article from:
- Business Wire
- Article date:
- October 17, 1997
CopyrightCOPYRIGHT 1997 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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NEW YORK--(BUSINESS WIRE)--Oct. 17, 1997--ATC Group Services Inc., (NASDAQ-NMS:ATCS), announced today that it had received an offer for the acquisition of the company at $12 per share from a group lead by senior members of management and a financial investor group, WPG Corporate Development Associates V, L.P., an affiliate of Weiss, Peck & Greer, L.L.C.
The offer is supported by ATC shareholders who hold in the aggregate approximately 28 percent of the outstanding common stock of ATC on a fully diluted basis. The company said that its board will form a special committee of independent directors to consider the proposed transaction.
The offer ...