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Our company has decided to move its acquisition efforts in other directions at this time, while continuing to pursue its agenda for internal growth. The company is terminating its efforts to purchase for $37.50 per share. This proposal was made to the Board of Directors on June 15, 1999. The proposed acquisition price represented a premium of 133 percent over the average price for shares for the 90-day period prior to the April 27, 1999, disclosure of ''s initial offer to purchase the company. "We remain convinced that the proposed combination would be in the best interest of building the businesses, replacement china improving the opportunities for its employees, customers and suppliers over the long term and maximizing value for its shareholders. however, it is evident that ''s entrenched management is intent on remaining a stand-alone company, regardless of the implications for its shareholders and employees." commenting on ''s growth agenda, meier stated, " is committed to strengthening its china presence in its core markets.

Our company has decided to move its acquisition efforts in other directions at this time, while continuing to pursue its agenda for internal growth. The company is terminating its efforts to purchase for $37.50 per share. This proposal was made to the Board of Directors on June 15, 1999. The proposed acquisition price represented a premium of 133 percent over the average price for shares for the 90-day period prior to the April 27, 1999, disclosure of ''s initial offer to purchase the company. "We remain convinced that the proposed combination would be in the best interest of building the businesses, replacement china improving the opportunities for its employees, customers and suppliers over the long term and maximizing value for its shareholders. however, it is evident that ''s entrenched management is intent on remaining a stand-alone company, regardless of the implications for its shareholders and employees." commenting on ''s growth agenda, meier stated, " is committed to strengthening its china presence in its core markets.
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