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Stock Market & Financial Investment News

News Breaks
February 11, 2013
09:33 EDTMLNK, SPLP, HNHSteel Partners acquires 7.5M ModusLink shares at $4.00
ModusLink (MLNK) announced that it has entered into an investment agreement with Steel Partners Holdings L.P. (SPLP), which together with certain affiliates, including Handy & Harman (HNH), beneficially owns 14.9% of ModusLink’s outstanding shares. Under the terms of the agreement, Steel Holdings would purchase 7.5M newly issued shares of common stock at a price of $4.00 per share, representing a cash investment in the company, before fees and expenses, of $30M. The $4.00 purchase price per share represents a 45% premium to the closing market price for ModusLink common stock on Friday, February 8. In addition, at the closing of the transaction the company would issue Steel Holdings warrants to acquire 2.0M shares at an exercise price of $5.00 per share. In addition, the Steel Group may purchase up to approximately 1.4M shares of ModusLink’s outstanding common stock, subject to proportionate adjustment. If all stock is purchased and all warrants are exercised as permitted under the agreement, the Steel Group would own approximately 32.6% of ModusLink’s outstanding shares.
News For MLNK;SPLP;HNH From The Last 14 Days
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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.
August 7, 2014
05:19 EDTHNHHandy & Harman to commence tender offer to repurchase up to $60M in shares
Handy & Harman announced that its board has authorized a tender offer to purchase for cash up to $60M in value of shares of its common stock, par value 1c per share, at a price of $24.00 per share. The closing price of HNH's common stock on August 6 was $22.56. The company intends to commence the Offer on August 7 and expects the Offer will expire at 5:00 P.M., Eastern Time, on September 5, unless extended or withdrawn.

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