JAC Acquisition Company, Inc. Extends Tender Offer for Joule Inc. Shares to January 15, 2004
December 22 2003 - 12:24PM
PR Newswire (US)
JAC Acquisition Company, Inc. Extends Tender Offer for Joule Inc.
Shares to January 15, 2004 MORRISTOWN, N.J., Dec. 22 /PRNewswire/
-- JAC Acquisition Company, Inc. ("Purchaser") today announced that
it is extending the expiration of the tender offer for all of the
outstanding common stock of Joule Inc. not owned by a purchaser
group consisting of Emanuel N. Logothetis, the founder, Chairman of
the Board and Chief Executive Officer of Joule, members of his
immediate family and John G. Wellman, Jr., President and Chief
Operating Officer of Joule (collectively, the "Purchaser Group") to
5:00 p.m., Eastern Standard Time, on January 15, 2004, unless
further extended. Purchaser commenced a tender offer for all of the
outstanding shares of Joule common stock not owned by the Purchaser
Group on November 21, 2003. The offer was previously scheduled to
expire at 12:00, midnight, Eastern Standard Time, on Friday,
December 19, 2003. As of the date hereof, approximately 350,000
shares of Joule common stock have been validly tendered and not
properly withdrawn. Mr. Logothetis stated that the Purchaser Group
believes that the holiday season had an adverse impact on the
number of shares tendered during the initial offer period. The
expiration of the offer is being extended to give stockholders
additional time to respond. Shareholders of Joule Inc. and other
interested parties are urged to read Purchaser's tender offer
statement, as amended, and other relevant documents filed with the
SEC because they contain important information. Shareholders of
Joule Inc. will be able to receive such documents free of charge at
the SEC's web site, (http://www.sec.gov/), or by contacting D.F.
King & Co., Inc., the information agent for the transaction at
(800) 859-8511 (toll free). Banks and brokers may call D.F. King
& Co., Inc. collect at (212) 269-5550. THIS ANNOUNCEMENT IS
NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL
SHARES OF JOULE INC. DATASOURCE: JAC Acquisition Company, Inc.
CONTACT: Tom Long of D.F. King & Co., Inc., +1-212-493-6920,
for JAC Acquisition Company, Inc.
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