Key Developments: Mestek Inc (MCCK.PK)

Mestek, Inc. Announces Commencement of Tender Offer
Friday, 25 Nov 2011 08:00am EST 

Mestek, Inc. announced the commencement of a modified "Dutch auction" tender offer (Offer) to acquire shares of its common stock. The Company intends to spend up to $2.5 million to repurchase up to 250,000 shares of common stock, or up to approximately 3.3% of its outstanding shares, at a price per share not greater than $12.50 nor lesss than $10.00. The Offer is scheduled to expire at 5:00 p.m., Eastern time, on December 23, 2011, unless extended. The modified "Dutch auction" tender offer process will allow shareholders to indicate how many of their shares and at what price within the $10.00 to $12.50 range the shareholders wish to tender.  Full Article