L.B. Foster extends subsequent offering period for shares of Portec Rail
Written by jrood
L.B. Foster Company said that its wholly-owned subsidiary, Foster Thomas Company, has extended its cash tender offer for all outstanding shares of common stock of Portec Rail Products, Inc., until 5:00 p.m., New York City time, on December 22, 2010. The tender offer was previously set to expire at 5:00 p.m., New York City Time on December 21, 2010. As of December 21, 2010, approximately 991,424 shares of common stock had been tendered in the subsequent offering period and Foster Thomas Company has accepted for payment all tendered shares. Foster Thomas Company now owns approximately 8,622,393 Portec Rail shares, representing approximately 89.78 percent of Portec Rail outstanding shares.
