Velcro announces final tender results

By Lisa Kerner

Charlotte, N.C., Feb. 17 - Velcro Industries NV said final results indicate it accepted for payment a total of 478,232 shares validly tendered in the company's cash tender offer ended Feb. 10.

The $21-per-share offer for all outstanding shares of Velcro common stock began on Jan. 7.

Approximately 2.5%, or 684,750 shares, of Velcro's outstanding common stock will now be held by shareholders other than the company's majority shareholder, Cohere Ltd.

As previously reported, Cohere went to court in September to compel the sale of all stock held by Velcro's minority shareholders to Cohere for $21 per share.

Velcro Industries, based in Curacao, the Netherlands Antilles, is the holding company for the Velcro companies, which manufacture hook-and-loop fasteners.

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