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Stock Market & Financial Investment News

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February 11, 2013
09:35 EDTMLNK, HNHModusLink announces settlement with Handy & Harman over board seats
ModusLink (MLNK) announced that it has reached a settlement agreement with Handy & Harman (HNH) in relation to the annual meeting. Under the terms of the settlement agreement, ModusLink has agreed to nominate and solicit proxies solely for the Steel Group (SPLP) representatives Warren Lichtenstein and Glen Kassan for election at the meeting as Class I directors. Lichtenstein is Chairman of the Board of Directors of Handy & Harman and Chairman of the Board and Chief Executive Officer of the general partner of Steel Holdings. Kassan is Vice Chairman of the Board of Directors of Handy & Harman and Managing Director at Steel Partners LLC. Handy & Harman has agreed to withdraw its preliminary proxy statement and to end its proxy solicitation, and has entered into certain other standstill arrangements with the Company. Upon consummation of the investment, ModusLink Directors Edward Lucente and Joseph O’Donnell would step down from the board, and current Chairman Francis Jules and Director and Audit Committee Chairman Michael Mardy, whose terms on the board conclude at the annual meeting, would each be reappointed to the board as Class II directors.
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August 19, 2014
08:56 EDTHNHHandy & Harman announces increase in tender offer price
Handy & Harman announced that it has amended its previously announced tender offer to increase the price at which it will purchase shares of its common stock, par value 1c per share to a purchase price of $26.00 per share. The maximum aggregate size of the tender offer remains unchanged at $60M in value of Common Stock. However, the maximum number of shares the Company could purchase if the tender offer is fully subscribed has decreased to 2,307,692 shares from 2,500,000 shares. The tender offer remains scheduled to expire at 5:00 P.M., Eastern Time, on September 5, 2014, or such later date to which the Company may extend the tender offer.

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