Advertisement

Allied extended its tender offer for Signal Cos.

The deadline for the Allied offer to buy up to 22 million shares of Signal Cos. common stock for $45 per share expired June 14 but has been extended until June 28. About 84 million of Signal’s 109 million shares--or 77%--have been tendered. Company officials said the Department of Justice has asked for additional, but routine, information about the merger. Analyst John Simon of Seidler Amdec Securities in Los Angeles said any possible antitrust conflict between some products at Allied’s Bendix and Signal’s Garrett should not be “enough to make any difference.”


Advertisement