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ACMG - $2.05 buyout on the table?? TBA on 2/15
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[QUOTE]Originally posted by lostone: [QB] Alcar Chemicals Signs Acquisition Offer With South East Asian Consortium 9:31a ET February 20, 2007 (Market Wire) Alcar Chemicals Group Inc. (PINKSHEETS: ACMG) announces today the signing of a Letter of Intent with the South East Asia consortium outlining the offer for the acquisition of the controlling interest of Alcar Chemicals Group Inc. for the consideration of $2.05 per share. According to the company, Dr. Cavasin is presently in Thailand, where he has finalized the remaining details and signed the LOI outlining the terms and conditions for the acquisition of the controlling interest of ACMG by the SEA consortium for an overall consideration of $2.05 per share. The consideration of $2.05 per share represents a total investment of $282 million to be made by the South East Asia consortium for (55%) fifty five percent ownership. The company stated that the letter of intent specifies an immediate cash investment of $7.2M dollars, which will be utilized to complete the Canadian plant and for the scale up engineering. The company expects a definitive agreement shortly, whereby the initial funds will be placed into escrow and released on closing of said agreement. Upon the signature of a definitive agreement, the name of the South East Asia group will be released as well as Dr. Cavasin's shares will also be placed into escrow and released according to milestones over a four year period. The milestones will include but are not limited to the construction and operation of (4) four full scale plants. [/QB][/QUOTE]
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