USA: CGW Southeast Partners IV, L.P. and JI Acquisition Corp. Completes Tender Offer for Johnston Industries, Inc.
CGW Southeast Partners IV, L.P. today announced that its wholly owned subsidiary, JI Acquisition Corp., has completed its $3.00 per share cash tender offer for all outstanding shares of Johnston Industries, Inc. (NYSE: JII). The offer expired, as scheduled, at midnight, New York City time, on Friday, May 5, 2000. As of the termination of the offer, based on a preliminary count from the depositary for the offer, 9,002,189 shares of Johnston Industries' common stock had been tendered and accepted for payment, including 73,581 tendered pursuant to notices of guaranteed delivery. The closing of the transaction and payment for the tendered shares is expected to take place on May 10, 2000. The tendered shares and the shares of Johnston Industries' common stock that JI Acquisition will purchase at the closing, represent 91.2% of Johnston Industries' outstanding common stock. JI Acquisition and Johnston Industries will proceed to complete a merger pursuant to which JI Acquisition will acquire the remaining shares of Johnston Industries for $3.00 per share in cash. The merger is expected to be completed on May 10, 2000. CGW is a Delaware limited partnership organized to make strategic investments in distribution and manufacturing businesses throughout the United States. CGW is headquartered in Atlanta, Georgia.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Unlocks for the future fashion sourcing landscape
- What TTIP might mean for US, EU textiles & apparel
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- Where next for Corporate Human Rights Benchmark?
- Li & Fung forms supply chain partnership with PVH
- US Q4 in brief – Finish Line, Oxford Industries
- Sears has "substantial doubt" of future
- World Bank commits $57bn to sub-Saharan Africa
- Target unveils "ambitious" store re-design plans
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective