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Article: Opta Food Ingredients Announces Acquisition Agreement With Stake Technology.
- Article from:
- Business Wire
- Article date:
- October 28, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
BEDFORD, Mass.--(BUSINESS WIRE)--Oct. 28, 2002
Opta Food Ingredients, Inc. (Nasdaq:OPTS), a leading developer and manufacturer of proprietary food ingredients, today announced it has entered into a definitive acquisition agreement with Ontario, Canada-based Stake Technology Ltd. (Nasdaq:STKL). Under the terms of the agreement, Stake will commence an all-cash tender offer to acquire all of the outstanding common shares of Opta Food Ingredients for $2.50 per share. The acquisition value of Opta's common shares, after dilution, is approximately $28 million in cash.
Opta's board of directors unanimously approved the acquisition ...
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