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Cyclops Corp. reconstitutes its board of directors following Dixons Group PLC's failure to receive a majority of Cyclops outstanding common stock in the tender offer.
PR Newswire
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March 25, 1987
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COPYRIGHT 1987 PR Newswire Association LLC. 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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PITTSBURGH, March 25 /PRNewswire/ -- Cyclops Corporation (NYSE: CYL) announced today that it has reconstituted its board of directors following the announcement by Dixons Group plc that Dixons failed to receive a majority of Cyclops outstanding common stock in the tender offer at $90.25 per common share which expired at midnight last night.
Dixons received 852,000 shares or just over 20 percent of the approximately 4.26 million outstanding shares, which brings its ownership in Cyclops to 21.7 percent.
The reconstituted board will be composed of three ...
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