Harbinger Capital Enters Confidentiality Agreement with Applica (APN)
In a amended 13D filing Friday afternoon on Applica Incorporated (NYSE: APN), 40% holder Harbinger Capital said on September 21st they entered into a confidentiality agreement with the company.
Earlier in the month, Harbinger Capital sent a letter to Applica's Board proposing to acquire all outstanding shares of the Company not owned by Harbinger for $6 per share in cash. Harbinger believes its offer represents a superior proposal to Applica's current merger agreement with the Hamilton Beach/Proctor-Silex subsidiary of NACCO Industries, Inc. (NYSE: NC).
Shares of Applica closed at $5.55 per share on Friday.
Sign-Up for E-Mail Alerts on APN (Free) and 13D Filings (Premium Only)
Earlier in the month, Harbinger Capital sent a letter to Applica's Board proposing to acquire all outstanding shares of the Company not owned by Harbinger for $6 per share in cash. Harbinger believes its offer represents a superior proposal to Applica's current merger agreement with the Hamilton Beach/Proctor-Silex subsidiary of NACCO Industries, Inc. (NYSE: NC).
Shares of Applica closed at $5.55 per share on Friday.
Sign-Up for E-Mail Alerts on APN (Free) and 13D Filings (Premium Only)
posted by Lon at 5:02 PM
0 Comments:
Post a Comment
<< Home