This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Handy & Harman Ltd. Requests Exemption To Acquire Up To 19.9% Of ModusLink Global Solutions, Inc.

WHITE PLAINS, N.Y., March 7, 2012 /PRNewswire/ -- Handy & Harman Ltd. (NASDAQ: HNH) ("HNH"), which together with certain affiliates owns approximately 14.3% of the outstanding shares of ModusLink Global Solutions, Inc. (NASDAQ: MLNK) ("ModusLink"), today issued a letter requesting an exemption under ModusLink's tax benefits preservation plan, as well as a limited waiver under Section 203 of the Delaware General Corporation Law, to enable HNH and its affiliates to purchase in the open market up to 19.9% of ModusLink's outstanding shares.  ModusLink's board of directors had previously granted to HNH and its affiliates an exemption under the plan to purchase up to 14.9% of the outstanding shares.  Based on previous discussions with ModusLink, it was HNH's belief that ModusLink would have no objection authorizing the purchase of additional shares by HNH and its affiliates to the extent that additional shares may be purchased without triggering an "ownership change" under Section 382 of the Internal Revenue Code.

Our Company

Handy & Harman Ltd. is a diversified global industrial company delivering value through the HNH Business System which drives innovation, operating excellence and superior customer service. HNH and its affiliated companies employ over 1,800 people at 29 locations in seven countries.

Our companies are organized into five businesses: Precious Metals, Tubing, Engineered Materials, Arlon Electronic Materials and Kasco.

We sell our products and services through direct sales forces, distributors and manufacturer's representatives. We serve a diverse customer base, including the construction, electronics, telecommunications, home appliance, transportation, utility, medical, semiconductor, and aerospace and aviation markets. Other markets served include blade products and repair services for the food industry.

We are based in White Plains, New York and our common stock is listed on the NASDAQ Capital Market under the symbol HNH.


1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,149.54 +69.40 0.38%
S&P 500 2,121.66 +3.97 0.19%
NASDAQ 5,106.4180 +14.3330 0.28%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs