MONTREAL—Shareholders of PLM Group have tendered nearly 98 percent of the company’s outstanding stock under the proposed offer by Transcontinental Inc. In August, Transcontinental announced its intention to acquire PLM Group for $3.50 per share.Founded in 1987, PLM has 470 employees in the Greater Toronto Area and reported revenues of $126 million in 2006.
MONTREAL—Transcontinental Inc. is bidding to take control of Toronto-based PLM Group. Transcontinental has made a takeover bid of C$3.50 per share for PLM’s 29.5 million outstanding shares, with a total enterprise value, including debt, of $130 million. Barry Pike, founder, chairman and CEO of PLM, and Pike Holdings—a holding company he controls—have signed a hard lock-up agreement to tender his shares, which account for 51.2 percent of the outstanding shares. On the day the deal was announced, the offer represented a 25 percent premium over PLM’s trading price on the Toronto Stock Exchange from the previous day. PLM Group posted revenues of C$126 million in 2006.
MONTREAL—Transcontinental Inc. is bidding to take control of Toronto-based PLM Group. It has made a takeover bid of C$3.50 per share for PLM’s 29.5 million outstanding shares, with a total enterprise value, including debt, of $130 million. Barry Pike, founder, chairman and CEO of PLM, and Pike Holdings (a holding company he controls) have signed a hard lock-up agreement to tender their shares, which account for 51.2 percent of the outstanding shares. On the day the deal was announced, the offer represented a 25 percent premium over PLM’s trading price on the Toronto Stock Exchange from the previous day. PLM Group posted earnings of C$126 million
(Editor's Note: Company rankings for the current and previous years are based on figures reported in 2004. Therefore, companies that revised their 2003 revenues may have changed their 2003 ranking as compared with the ranking that appeared in last year's Printing Impressions 400. Similarly, the percentage change in sales is calculated on the most recent information provided.) 51 ('03: 52) PBM Graphics, Research Triangle Park, NC Total Sales (Millions): $113.50 Previous Year's Sales (Millions): $102.20 Change (%): +11 Principal Officer: Terry L. Pegram Employees: 900 Primary Specialties: COM 85%; PUB 5%; PREP 5%; ADV 5% Web Offset Press Units: 11 Sheetfed Press Units: 90
