OTHER NEWS - May 20, 1995
From Times Staff and Wire Reports
Bic Parent Seeks All of U.S. Subsidiary: The French maker of pens, lighters, razors and other disposable products said it has launched a $192-million bid to buy out the minority shareholders of Bic Corp. Bic and the Bich family, which founded the group, already control about 78% of Milford, Conn.-based Bic Corp. It is offering $36.50 for each of the 5,254,396 shares it doesn’t own. The stock rose on the news, climbing $3.13 a share to $38.88 on the New York Stock Exchange. Bic is the second major French company to take advantage of a weak dollar by launching a stock buyback of a publicly listed U.S. subsidiary. Earlier this year, resort and tourism group Club Mediterranee offered to buy out minority shareholders of Club Med Inc.
