A Rising Stake in Nuts and Bolts:...
A Rising Stake in Nuts and Bolts: Bisco Industries Inc., which has been rebuffed in its attempt to take over RB&W; Corp., said Tuesday that it has increased its stake in the Ohio-based competitor to 8.4% from 7.4% in August. Bisco, an Anaheim distributor of nuts and bolts, originally proposed acquiring RB&W; in June. But RB&W;’s directors rejected the offer, valued at $72 million, saying it was too conditional and lacked financing. Glen F. Ceiley, Bisco’s chief executive, said his company remains interested in acquiring RB&W;, which also distributes and manufactures nuts and bolts.
