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Hirsch International Gets Extension for Acquisition Proposal

Posted on: Wed, 01 Jul 2009 02:09:00 EDT

Symbols: HRSH

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Jun 30, 2009 (Close-Up Media via COMTEX) --
HRSH | Quote | Chart | News | PowerRating -- Hirsch International Corp. previously announced on June 12, that the special committee of its board of directors received a letter from Paul Gallagher, President, Chief Executive Officer and Chief Operating Officer of the Company, proposing to acquire, through acquisition entities to be formed by him, all of the outstanding shares of the Company's Class A and Class B Common Stock, for $0.28 per share in cash, other than shares held by Gallagher and any investor that may invest in his acquisition entities, according to a release.

The company said that Gallagher's letter provided that his offer was subject to conditions contained in the letter, and that his offer would expire on June 25. On June 24, the Special Committee requested that Gallagher extend the expiration date of his offer and Gallagher agreed to such request. The new expiration date for Gallagher's offer is June 30.

Hirsch is a provider of equipment and education and support services to the graphic and decorated apparel industry.

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For full details on Hirsch International Corp Class A (HRSH) HRSH. Hirsch International Corp Class A (HRSH) has Short Term PowerRatings at TradingMarkets. Details on Hirsch International Corp Class A (HRSH) Short Term PowerRatings is available at This Link.

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