wsj_0661.xml

WSJ891030-0036 WSJ891030-0036 = 891030
= 891030
891030-0036 . 891030-0036 . Investor Group Makes @ Bid for Dataproducts ; @ Liquidation Is Sought Investor Group Makes @ Bid for Dataproducts ; @ Liquidation Is Sought 10/30/89 10/30/89
10/30/89
WALL STREET JOURNAL ( J ) WALL STREET JOURNAL ( J ) DPC DPC TENDER OFFERS , MERGERS , ACQUISITIONS ( TNM ) TENDER OFFERS , MERGERS , ACQUISITIONS ( TNM ) WOODLAND HILLS , Calif. WOODLAND HILLS , Calif. A unit of DPC Acquisition Partners launched a $ 10-a-share tender offer for the shares outstanding of Dataproducts Corp. , and said it would seek to liquidate the computer-printer maker `` as soon as possible , '' even if a merger is n't consummated . DPC Acquisition is controlled by Crescott Investment Associates , Wilson Investment Group , Kernel Corp. and Catalyst Partners . The investor group owns 1,534,600 Dataproducts common shares , or a 7.6 % stake . The offer is based on several conditions , including obtaining financing . DPC Acquisition said it had received the reasonable assurance of Chase Manhattan Bank N.A. that the financing can be obtained . In a filing with the Securities and Exchange Commission , DPC Acquisition said it expects it will need about $ 215 million to buy the shares and pay related fees and expenses . DPC Acquisition added that it has not begun discussions with financing sources , and said it expected to repay the amounts borrowed through proceeds of the liquidation . Dataproducts officials declined to comment , and said they had not yet seen a suit filed in federal court by DPC Acquisition that seeks to nullify a standstill agreement between DPC Acquisition and Dataproducts . Earlier this year , DPC Acquisition made a $ 15-a-share offer for Dataproducts , which the Dataproducts board said it rejected because the $ 283.7 million offer was not fully financed . Dataproducts has since started a restructuring , and has said it is not for sale .