Kelso & Company Makes All-Cash Offer for EACOM Timber
EACOM Timber Corporation (ETR.V) and Kelso & Company jointly announced that Kelso, through a wholly owned subsidiary has agreed, subject to certain conditions, to make a take-over bid to acquire all of the common shares of EACOM for $0.38 in cash per common share.
EACOM and Kelso have entered into a support agreement in connection with the offer, which represents a premium of approximately 42$ to the closing price of the EACON shares on March 21.
EACOM's Board of Directors unanimously recommends that shareholders accept the Kelso offer.
ETR shares last traded at $0.26.
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