-ALLIEDSIGNAL: AlliedSignal purchases 20 million shares pursuant to tender offer.

0 Comments | M2 Presswire, October, 1998

M2 PRESSWIRE-12 October 1998-ALLIEDSIGNAL: AlliedSignal purchases 20 million shares pursuant to tender offer (C)1994-98 M2 COMMUNICATIONS LTD RDATE:091098 -- 72 of AMP shares have been tendered AlliedSignal Inc. [NYSE: ALD] announced today that it is purchasing 20 million shares of AMP Incorporated [NYSE: AMP] common stock at $44.50 per share in cash pursuant to the tender offer that expired at midnight last night.

As of that time, 156,555,508 shares had been tendered to AlliedSignal and not withdrawn. Payment will be made promptly after the proration factor has been determined, and the shares not purchased will be returned to shareowners. "AlliedSignal remains committed to a combination with AMP, as demonstrated by its $890 million investment," said...