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ILC Technology Inc. Signs Definitive Merger Agreement With BEC Group Inc.
Business Wire
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October 31, 1997
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COPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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SUNNYVALE, Calif.--(BUSINESS WIRE)--Oct. 31, 1997--ILC Technology Inc. (Nasdaq:ILCT) Friday announced the signing of a definitive merger agreement with BEC Group Inc. (NYSE:EYE), the parent company of ORC Technologies Inc. and Bolle Inc., whereby BEC Group will acquire ILC Technology in an all stock transaction.
Prior to closing the transaction, BEC Group plans to spin off its Bolle subsidiary to BEC Group shareholders and to effect a reverse 1-for-2 stock split of BEC shares.
Under the merger agreement, ILC Technology shareholders will receive 4.36 ...
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