Juno Lighting alters focus after buyout bid.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), June, 2005

Byline: Paulo Winterstein Medill News Service Since reorganizing its sales division and refinancing its debt, fast-growing Des Plaines-based Juno Lighting Inc. has spent the last year promoting its varied product line. But its focus clearly changed May 12 when it said it had hired an investment banker to look at ways to increase shareholder value after being approached by Abrams Capital LLC with a preliminary proposal to buy all Juno's outstanding shares for "at least" $40 each.

The lightly traded stock, which was selling at $33.90 before the offer, traded Thursday for $40.49. Juno still has not responded to Abrams' offer and Vice President George Bilek declined to answer questions regarding it. In a May 12 news release, Juno stated that "its Board of...