Auto Industry
Industry: Email Alert RSS FeedLinamar and McLaren Performance Technologiesrevised letter of intent
Automotive Industries, July, 2003
Linamar Corp. and McLaren Performance Technologies Inc. have entered into a revised, non-binding letter of intent under which Linamar proposes to acquire by merger all of the issued and outstanding shares of McLaren Performance common stock. The initial non-binding letter of intent dated March 26, 2003, and amended April 9, 2003, contemplated payment to McLaren Performance stockholders of $1.03 per share of McLaren Performance common stock held.
After conducting an extensive due diligence investigation, Linamar notified McLaren Performance of its unwillingness to proceed with the transactions as contemplated by the initial non-binding letter of intent.
Most RecentAuto Articles
Upon consideration and subsequent negotiations, the parties have entered into a revised non-binding letter of intent, which contemplates that each share of McLaren Performance common stock outstanding as of the closing date of the merger would be converted into the right to receive $.8875 in cash.
Brought to you by CBS MoneyWatch.com
- 10 Best Places to Retire
- Companies with the Best 401(k) Plans
- Most Important Document for Your Heirs? It's Not Your Will
- Video: Should You Expect to Retire Rich?
- Over 50? Here's How to Get (and Keep) a Great Job
Most Recent Autos Articles
Most Recent Autos Publications
Most Popular Autos Articles
Most Popular Autos Publications
Content provided in partnership with http://findarticles.com/source//

