L.B. Foster Company said it is extending its previously announced cash tender offer, through its wholly-owned subsidiary Foster Thomas Company, for all outstanding shares of common stock of Portec Rail Products, Inc., until 12:00 midnight, New York City time, on August 30, 2010. The tender offer was previously set to expire at midnight, New York City time on August 16, 2010.
As of August 13, 2010, 6,826,795 shares of common stock had been tendered in and not withdrawn from the offer. These tendered shares constituted 71.09% of the outstanding shares of common stock.