October 9, 1999 |
Bell Industries Inc., an electronics and computer-products maker and distributor based in El Segundo, said it rejected as inadequate a $5.30-a-share offer by Steel Partners II. Bell told the New York-based investment fund that it would consider a higher offer. Bell's shares, which reached a 52-week high of $6 last month, rose 31 cents, or 7%, to close at $4.88. The shares have jumped 21% during the past year. Steel Partners is Bell's largest shareholder, with a stake of 15%, as of last March.
November 16, 2004 |
GenCorp Inc., a maker of aerospace components, rejected a $17-a-share takeover offer from investment fund Steel Partners, saying the price was inadequate and not in the best interest of shareholders. GenCorp said it would proceed with a plan to sell 7.5 million shares and $50 million of convertible debt. The Rancho Cordova, Calif.-based company also said it secured a new $175-million bank loan. GenCorp shares fell 50 cents to $16.59 on the NYSE.
November 23, 2004 |
Steel Partners II withdrew its $17-a-share offer for the stock it doesn't already own in GenCorp Inc. to evaluate other investment options in the spacecraft-parts maker. GenCorp, based in Rancho Cordova, Calif., rejected the offer Nov. 15, saying the price was inadequate, and said it would proceed with plans to sell as many as 8.6 million shares, refinance $80 million in debt and secure a $175-million loan. GenCorp priced a public offering of 7.5 million shares at $16 each.
May 7, 1994 |
Steel Partners II, L.P., a New York-based securities firm, raised its stake in Gateway Communications Inc. of Irvine to 13.1% of the company's 5.16 million outstanding shares. Steel Partners purchased 82,000 Gateway shares between April 25 and April 29, according to a Schedule 13D filed Thursday with the Securities and Exchange Commission. The investor now holds 687,648 shares in Gateway, a maker of computer networking equipment.