Bonal International, Inc. Board of Directors Received an Amendment
to Letter of Intent
ROYAL OAK, Mich., Nov. 7, 2012 /PRNewswire/ -- Bonal
International, Inc.'s (OTC: BONL) Board of Directors received an
amendment to the Letter of Intent of September 27, 2012 with DePierre Management and
Manufacturing, LLC. The amendment alters the structure of the
proposed transaction from a stock purchaser to a merger, which
would therefore include all of the company's stockholders in the
transaction.
At a special meeting the Board of Directors approved the
amendment. The amendment was executed on November 6, 2012.
A definitive "Agreement and Plan of Merger" will be prepared. If
mutually acceptable to the Company, its stockholders, and the
purchaser, the Board of Directors currently contemplates that it
will approve the Agreement and Plan of Merger.
Once approved by the Board of Directors, a Special stockholder's
meeting will be called for the purpose of voting on the Agreement
and Plan of Merger. The Board of Directors currently expects that
the meeting will be held in December. A notice of meeting will be
sent to stockholders once the Board of Directors approves the
Agreement and Plan of Merger.
SOURCE Bonal International, Inc.