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Stock Market & Financial Investment News

News Breaks
October 27, 2011
08:02 EDTMLNK, HNHModusLink grants Handy & Harman exemption to tax benefit plan
ModusLink Global Solutions (MLNK) announced that its board has determined to grant Handy & Harman (HNH) together with BNS Holding and Steel Partners, an exemption to the company's tax benefit preservation plan, pursuant to Section 28 of the plan. This exemption allows the HNH Group, which currently owns approximately 10% of ModusLink's outstanding shares, to purchase in the open market additional shares up to an amount that would result in the HNH Group owning an aggregate of approximately 14.9% of the company's outstanding shares. The board granted this exemption following a comprehensive review of the HNH Group's letter dated October 19 requesting such a waiver. In reaching its decision, the board determined that granting such a waiver would have no adverse impact on the time period for the use of ModusLink's net operating losses tax assets or the availability of these assets to ModusLink. The company noted that no other stockholders have contacted ModusLink since the adoption of the plan to request similar exemptions.
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August 19, 2014
08:56 EDTHNHHandy & Harman announces increase in tender offer price
Handy & Harman announced that it has amended its previously announced tender offer to increase the price at which it will purchase shares of its common stock, par value 1c per share to a purchase price of $26.00 per share. The maximum aggregate size of the tender offer remains unchanged at $60M in value of Common Stock. However, the maximum number of shares the Company could purchase if the tender offer is fully subscribed has decreased to 2,307,692 shares from 2,500,000 shares. The tender offer remains scheduled to expire at 5:00 P.M., Eastern Time, on September 5, 2014, or such later date to which the Company may extend the tender offer.

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