Universal Foods rejects High Voltage proposal to negotiate merger; Universal board reaffirms business plan. (High Voltage Engineering Corp.)

PR Newswire | July 24, 1989 | Copyright

UNIVERSAL FOODS REJECTS HIGH VOLTAGE PROPOSAL TO NEGOTIATE

MERGER UNIVERSAL BOARD REAFFIRMS BUSINESS PLAN

MILWAUKEE, July 24 /PRNewswire/ -- The board of directors of Universal Foods Corporation (NYSE, PSE: UFC) announced today that it has unanimously rejected High Voltage Engineering Corporation's July 7 proposal to meet and negotiate the acquisition of Universal at $42 net per share.

John L. Murray, chairman, and Guy A. Osborn, president and chief executive officer, of Universal Foods Corporation stated in a letter sent to the ...

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