NACCO Industries, Inc. Increases Tender Offer Price for Applica to $7.50 Per Share, Amends Conditions to the Offer
26 Dicembre 2006 - 2:11PM
PR Newswire (US)
CLEVELAND, Dec. 26 /PRNewswire-FirstCall/ -- NACCO Industries, Inc.
(NYSE:NC) announced today that through an indirect, wholly owned
subsidiary, it has increased the offer price in its cash tender
offer to purchase all of the issued and outstanding shares of
common stock, par value $0.10 per share, of Applica Incorporated
(NYSE:APN) from $7.00 per share to $7.50 per share. Apex
Acquisition Corporation, NACCO's indirect, wholly owned subsidiary,
will be filing an amendment to its Schedule TO today with the
Securities and Exchange Commission amending certain conditions to
its cash tender offer for all of Applica's shares and deleting
other conditions. The tender offer remains subject to various
conditions, including the tender of a majority of Applica shares,
calculated on a fully diluted basis. The tender offer is not
subject to a financing contingency. Questions regarding the tender
offer or requests for offering materials should be directed to the
information agent, MacKenzie Partners, Inc., at (800) 322-2885.
Offering materials are being filed today by Apex Acquisition
Corporation, an indirect, wholly owned subsidiary of NACCO, with
the Securities and Exchange Commission (SEC) and will be available
on the SEC's website at http://www.sec.gov/. Applica's shareholders
are urged to read the offering materials filed by Apex Acquisition
Corporation, which contain important information. THIS PRESS
RELEASE SHALL NOT CONSTITUTE AN OFFER TO PURCHASE OR A SOLICITATION
OF AN OFFER TO SELL, WHICH MAY BE MADE ONLY PURSUANT TO THE TERMS
OF THE OFFER TO PURCHASE AND RELATED LETTER OF TRANSMITTAL
INITIALLY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON
DECEMBER 15, 2006, AS AMENDED. THE OFFER IS NOT BEING MADE TO, NOR
WILL TENDERS BE ACCEPTED FROM OR ON BEHALF OF, HOLDERS OF APPLICA
SHARES IN ANY JURISDICTION IN WHICH THE MAKING OF THE OFFER OR THE
ACCEPTANCE THEREOF WOULD NOT COMPLY WITH THE LAWS OF THAT
JURISDICTION. About NACCO NACCO is an operating holding company
with three principal businesses: lift trucks, housewares and
mining. NACCO Materials Handling Group, Inc. designs, engineers,
manufactures, sells, services and leases a comprehensive line of
lift trucks and aftermarket parts marketed globally under the
Hyster(R) and Yale(R) brand names. NACCO Housewares Group consists
of Hamilton Beach/Proctor-Silex, a leading designer, marketer and
distributor of small electric household appliances, as well as
commercial products for restaurants, bars and hotels, and The
Kitchen Collection, Inc., a national specialty retailer of
kitchenware and gourmet foods operating under the Kitchen
Collection(R) and Le Gourmet Chef(R) store names in outlet and
traditional malls throughout the United States. The North American
Coal Corporation mines and markets lignite coal primarily as fuel
for power generation and provides selected value-added mining
services for other natural resources companies. Additional
information about NACCO is available at http://www.nacco.com/. For
questions about the tender offer, contact: MacKenzie Partners, Inc.
105 Madison Avenue New York, New York 10016 Toll-Free: (800)
322-2885 or, Call Collect: (212) 929-5500 ANALYSTS AND MEDIA
CONTACT: NACCO Industries, Inc. Christina Kmetko Manager - Finance
(440) 449-9669 DATASOURCE: NACCO Industries, Inc. CONTACT: ANALYSTS
AND MEDIA: Christina Kmetko, Manager - Finance, NACCO Industries,
Inc., +1-440-449-9669 Web site: http://www.nacco.com/
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