07/02/2002
Bombardier hit back at "inaccurate" media report
Bombardier has hit back at speculation in the local press that it faces a takeover bid by TRC Capital Corporation.
The article alleged that Montreal-based Bombardier Inc., the parent company of Bombardier in Belfast, was facing a possible takeover bid by TRC Capital.
According to the article, TRC was reported to have made a cut-price offer for 20 million Bombardier Class B subordinate shares at $13.50Cdn, which were below the closing price of $15.09 Cdn on the Toronto Stock Exchange last Friday.
However, a statement by Bombardier said: “There is no factual basis whatsoever for these claims. Apart from the fact that Bombardier Inc. is controlled by the families of its founder J-Armand Bombardier, the purchase of 20 million of its Class B shares represents a mere two per cent of the shares. It is very regrettable that the article was carried without the facts being properly checked.
“TRC Capital has made a number of similar ‘mini-tenders’ in recent months to buy shares in other leading companies at below market prices.”
Bombardier currently employs 79,000 people around the world, 7,000 of which are employed at the companies three Northern Ireland sites.
(MB)
The article alleged that Montreal-based Bombardier Inc., the parent company of Bombardier in Belfast, was facing a possible takeover bid by TRC Capital.
According to the article, TRC was reported to have made a cut-price offer for 20 million Bombardier Class B subordinate shares at $13.50Cdn, which were below the closing price of $15.09 Cdn on the Toronto Stock Exchange last Friday.
However, a statement by Bombardier said: “There is no factual basis whatsoever for these claims. Apart from the fact that Bombardier Inc. is controlled by the families of its founder J-Armand Bombardier, the purchase of 20 million of its Class B shares represents a mere two per cent of the shares. It is very regrettable that the article was carried without the facts being properly checked.
“TRC Capital has made a number of similar ‘mini-tenders’ in recent months to buy shares in other leading companies at below market prices.”
Bombardier currently employs 79,000 people around the world, 7,000 of which are employed at the companies three Northern Ireland sites.
(MB)
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