Velcro accepts more than 477,000 shares in tender offer

By Lisa Kerner

Charlotte, N.C., Feb. 11 - Velcro Industries NV said 471,272 shares of its common stock were validly tendered and not properly withdrawn in the company's offer that ended on Feb. 10.

An additional 5,960 shares were tendered by notice of guaranteed delivery.

According to Velcro, it accepted for payment all shares validly tendered.

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

A previously reported, Cohere Ltd., which holds more than 95% of Velcro's common stock, went to court in September to compel the sale of all stock held by Velcro's minority shareholders to Cohere for $21 per share.

Computershare Investor Services Inc. was the depositary for the offer, and the information agent was MacKenzie Partners, Inc. (800 322-2885).

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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