Allied again extended its offer for Signal shares.
The offer by Allied to buy up to 22 million shares of Signal’s common stock at $45 per share was extended until midnight, July 15. It was the third time that the proposal has been extended. To date, nearly 84 million shares have been tendered. Allied and Signal also have filed additional information requested by the Justice Department, whose staff is analyzing the proposed merger for possible antitrust violations. That investigation has been “substantially narrowed,” said company officials, who added that they expect an “early resolution” of the review.
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