Oil, banks trip up European shares
LONDON, May 26 European shares slid in thin trade on Friday as shares in energy firms and banks dropped, ending a lacklustre week relatively little changed.
May 1 Span-America Medical Systems Inc:
* Span-America Medical Systems, Inc. agrees to be acquired by Savaria Corporation
* All-cash tender offer of $29 per share
* Savaria intends to acquire Span-America by way of an all-cash tender offer for $29 per share, or approximately $80.2 million
* Savaria has indicated that it will finance deal with cash on hand, financing commitment from National Bank of Canada among others
* Savaria also indicated that it will finance transaction with a Canadian equity private placement of subscription receipts
* Board of Directors of Span-America unanimously approved proposed acquisition of Span-America by Savaria
* Deal subject to conditions including receipt of two-thirds of Span-America's shares in tender offer to Span-America' shareholders
* As per deal, all of Span-America's Board Members and senior managers have agreed to tender their shares
* Savaria to buy all remaining shares not tendered in tender offer through second-step merger at same price/share as payable under offer
* Members of Span-America's Board, senior officers to tender their Span-America shares, constituting about 15.9% of its outstanding shares Source text for Eikon: Further company coverage:
* Autodis Group - Autodis Group will divest subsidiary AD Poland to Rhiag Group, a wholly owned subsidiary of LKQ Corporation
LONDON, May 26 Asian LNG spot prices fell this week due to a lack of significant new demand from the Middle East and others as supplies emerged from Papua New Guinea, Angola, Abu Dhabi and Russia.