Continental Materials Corporation's Board of Directors to Review Unsolicited Tender Offer from Bee Street Holdings LLC
CONTINENTAL MATERIALS (CUO)
NASDAQ:AMEX Investor Relations:
continental-materials.com
Company Research
Source: GlobeNewswire
CHICAGO, Feb. 18, 2020 (GLOBE NEWSWIRE) -- Continental Materials Corporation (NYSE American: CUO) ("CMC"), today confirmed that Bee Street Holdings LLC, an entity controlled by James G. Gidwitz, the Chairman of our board of directors and our Chief Executive Officer, and by other members of the Gidwitz family ("Bee Street"), has commenced an unsolicited tender offer to acquire all of the outstanding shares of CMC common stock for $9.50 per share in cash. Based on the Offer to Purchase attached to the joint Schedule TO/13E-3 filed by Bee Street with the SEC in connection with such offer, Bee Street currently owns approximately 61% of the outstanding common stock of CMC. CMC’s board of directors will carefully review and evaluate Bee Street’s tender offer. Following its review, the CMC board will make a recommendation or state that it is neutral or is unable to take a position with respect to the tender offer within ten business days of its commencement by making available to stockho
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