Centaur Partners increases bid for shares of Pennwalt to $110 per share, urges board to immediately fix date for special meeting. (includes text of letter to Pennwalt directors)

PR Newswire | February 14, 1989 | Copyright

CENTAUR PARTNERS INCREASES BID FOR SHARES OF PENNWALT TO $110 PER SHARE,

URGES BOARD TO IMMEDIATELY FIX DATE FOR SPECIAL MEETING

NEW YORK, Feb. 14 /PRNewswire/ -- Centaur Partners today announced that Trio Acquisition Corp., its wholly owned subsidiary, has increased its tender offer bid price for Pennwalt Corporation (NYSE: PSM) from $100 to $110 in cash per share and associated preference share purchase rights. The increase in the bid price will be funded from an additional $10 million equity investment to be made by Centaur's partners and from ...

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