Judge suspends completion of Foster-Portec merger
Written by jrood
L.B. Foster Co. and Portec Rail Products, Inc., say they are reviewing their options following a judge's action Wednesday enjoining the completion of L.B. Foster's tender offer to acquire all of Portec Rail's issued and outstanding common stock.
The Court of
Common Pleas of Allegheny County, Pa., issued the preliminary injunction.
Several class action suits have been filed opposing the transaction.
