This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bonal International, Inc. Accepts Proposed Merger

ROYAL OAK, Mich., Feb. 8, 2013 /PRNewswire/ -- Bonal International, Inc. (OTC: BONL) announced Friday that its board of directors, on February 1, 2013, unanimously approved an agreement and plan of merger with DePierre Management & Manufacturing, LLC and its newly formed, wholly-owned subsidiary, DMM Acquisition Corporation.  Pursuant to the agreement and plan of merger, DiPierre Management & Manufacturing will acquire 100% ownership of Bonal International, Inc.  In exchange, the current company stockholders will receive $0.86 per share for each share of company common stock owned by them.  In addition, the company's board of directors currently contemplates a dividend will be issued to stockholders simultaneous with the consummation of the merger.  The dividend amount has not yet been determined; because all company expenses of the merger will have to be paid first, but the board of directors currently contemplates the dividend will be approximately between $0.20-0.30 per share. The agreement and plan of merger was executed on Monday, February 4, 2013.

Final consummation of the merger requires the approval of the company's stockholders.  The company is currently in the process of preparing a stockholder proxy statement, which should be mailed in the next two weeks to stockholders of record on February 13, 2013.  The stockholder meeting is currently targeted for mid-March, 2013, with the exact date to be set forth in the company's proxy statement.

Separately, Thomas E. Hebel and Paul Y. Hebel have resigned from the board of directors of Bonal International, Inc.  The company's board of directors has also relieved Thomas E. Hebel from his duties as acting Interim President.  Mr. Hebel remains an employee of the company, serving as the Vice-President of Marketing.  Mr A. George Hebel III, past president and chief executive officer and current chairman of the board of directors, has been appointed Interim President, effective immediately.

Bonal International, Inc., through its wholly owned subsidiary, Bonal Technologies, Inc., is the world's leading provider of sub-harmonic vibratory stress relief and weld conditioning technology.  Headquartered in Royal Oak, Michigan, Bonal serves the aerospace, armament, automotive, petroleum, die casting, mining, racing, machine tool building, mold making, ship building, and welding industries.  Bonal's patented Meta-Lax R technology is used for eliminating thermal stress in metal parts, thereby preventing warping and cracking, at a fraction of the time, energy, and monetary costs of competing technologies.  More information can be found at or by calling 1-800-Meta-Lax.

SOURCE Bonal International, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs