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Stock Market & Financial Investment News

News Breaks
February 11, 2013
09:35 EDTHNH, MLNKModusLink 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.
News For MLNK;HNH From The Last 14 Days
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April 15, 2015
08:08 EDTHNHHandy & Harman extends tender offer for JPS shares until May 1
Handy & Harman (HNH) announced that its wholly owned subsidiary, Handy & Harman Group Ltd. through one of HNH Group’s subsidiaries, HNH Group Acquisition LLC, has extended the expiration of its previously announced tender offer to purchase common stock of JPS Industries (JPST) to 5:00 p.m., New York City Time, on May 1, 2015, unless further extended. Under the tender offer, the Purchaser has offered to purchase up to 10,028,724 shares, or approximately 96.5% of the outstanding shares, of common stock of JPS, at a price of $10.00 per share in cash to all stockholders other than SPH Group Holdings LLC, a subsidiary of Steel Partners Holdings L.P. (SPLP), the parent company of HNH, and with respect to the shares owned by SPHG Holdings, in exchange for common stock of HNH. The tender offer had been originally scheduled to expire at 5:00 p.m., New York City Time, on February 26, 2015 and was extended by HNH on February 23, 2015 to 5:00 p.m., New York City Time, on March 9, 2015, was further extended by HNH on March 4, 2015 to 5:00 p.m., New York City Time, on March 23, 2015, was further extended by HNH on March 19, 2015 to 5:00 p.m., New York City Time, on April 3, 2015 and was further extended by HNH on April 1, 2015 to 5:00 p.m., New York City Time, on April 17, 2015. The depositary for the tender offer has advised that, as of the close of business on April 14, 2015, a total of approximately 215,896 shares, or approximately 2.1528% of the outstanding shares, of JPS’ common stock, had been validly tendered into, and not properly withdrawn from, the tender offer.

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