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GE Power Agrees To Buy Showpower
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Business New Haven
1/10/2000
By: BNH
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SCHENECTADY, N.Y. - General Electric Co.'s (NYSE: GE) GE Power Systems has announced an agreement to acquire California-based Showpower Inc. (AMEX: SHO), a supplier of temperature-control and power-generation equipment, for $28 million. The deal will effect via a tender offer for Showpower stock at $7 per share. To date, holders of approximately 40 percent of Showpower shares plan to tender shares.
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