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Article: American-Standard announces negotiations.
- Article from:
- PR Newswire
- Article date:
- March 1, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. 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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AMERICAN-STANDARD ANNOUNCES NEGOTIATIONS
NEW YORK, Feb. 29 /PRNewswire/ -- American Standard Inc. (NYSE: AST) today announced that it has begun negotiations with third parties regarding the possible sale by American- Standard of its debt securities (together with warrants for the purchase of not more than 15 percent of its common stock) as a means of increasing the cash portion of American-Standard's previously announced recapitalization proposal.
It is expected that any such sale would be conditioned on the approval of the recapitalization proposal by stockholders. There can be no assurance that the negotiations will result in an actual agreement or ...