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Article: Precision Systems Inc., Parent Company of Vicorp, Signs Definitive Agreement with Speer Companies.
- Article from:
- Business Wire
- Article date:
- April 23, 1998
CopyrightCOPYRIGHT 1998 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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ST. PETERSBURG, Fla.--(BUSINESS WIRE)--April 23, 1998--Precision Systems, Inc. (Nasdaq: PSYS, BOS: PNS) and its subsidiaries, Vicorp(tm) and BFD Productions, Inc., announced today that its Board of Directors has approved and the Company has entered into a definitive agreement ("agreement") with various privately held entities controlled by Roy M. Speer to acquire a controlling interest in the Company.
The transaction is valued at approximately $100 million, and is subject to shareholder and certain antitrust and regulatory approvals and other customary conditions.
Under terms of the agreement, which was initially proposed on March 6, 1998, the ...
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