wsj_0662.xml
WSJ891030-0035
WSJ891030-0035
=
891030
=
891030
891030-0035
.
891030-0035
.
Business
Brief
--
Jayark
Corp.
:
@
Firm
Agrees
to
Buy
Kofcoh
@
For
Cash
,
Debt
and
Stock
Business
Brief
--
Jayark
Corp.
:
@
Firm
Agrees
to
Buy
Kofcoh
@
For
Cash
,
Debt
and
Stock
10/30/89
10/30/89
10/30/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
JAYA
JAYA
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
Jayark
Corp.
agreed
to
pay
$
4
million
in
cash
,
$
2
million
of
12
%
convertible
debentures
,
and
1.6
million
common
shares
to
acquire
closely
held
Kofcoh
Imports
Inc
.
In
over-the-counter
trading
Friday
,
Jayark
was
quoted
at
87.5
cents
bid
,
down
15.625
cents
.
At
the
market
price
,
the
transaction
has
a
total
indicated
value
of
$
7.4
million
.
Kofcoh
is
a
New
York
holding
company
for
Rosalco
Inc.
,
which
imports
furniture
and
other
items
.
David
L.
Koffman
,
president
and
chief
executive
officer
of
Jayark
,
holds
about
40
%
of
Kofcoh
,
Jayark
said
.
Jayark
,
New
York
,
distributes
and
rents
audio-visual
equipment
and
prints
promotional
ads
for
retailers
.
In
the
quarter
ended
July
31
,
Jayark
had
an
average
of
5.6
million
shares
outstanding
.
The
transaction
is
subject
to
approval
by
a
panel
of
disinterested
directors
,
the
company
said
,
adding
that
shareholder
approval
is
n't
needed
.