Cascal N.V.

LONDON, June 1, 2010 - The Board of Directors Unanimously Recommends that Stockholders (other than Biwater) Reject the Offer and NOT Tender Their Shares into the Offer Highlights of 14D-9 Filing: -- Offer undervalues the shares based on the Company's historical financial performance and future operational and strategic opportunities -- Board of Directors believes that Biwater agreed to sell the Biwater stake as a result of Biwater's significant financial distress due to pressure exerted by its principal lender, HSBC, which also acted as its financial advisor in negotiating the sale to Sembcorp -- The Board of Directors' commitment to exploring strategic alternatives to maximize stockholder value of the Shares for the benefit of stockholders, including seeking a superior alternative to the Offer, which may include a business combination of the Company with third parties or other strategic or financial alternatives that could deliver higher stockholder value than the Offer Cascal N.V.
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