Amadeusz Juskowiak

Ropak ropk has 34 pct of buckhorn bkn

Ropak Corp said it received and accepted about 456968 common shares and 527035 Series A convertible preferred shares of Buckhorn Inc at four dlrs and 575 dlrs each respectively in response to its tender offer that expired Friday and it now owns 344 pct of Buckhorn voting power

The company had owned 63000 common and 25100 preferred shares before starting the hostile tender Ropak said it is borrowing the funds needed to buy the Buckhorn shares from its bank lender and will not need to use any funds that another bank had committed to provide under a margin loan

Ropak said it waived minimum acceptance requirements to buy the shares and intends to evaluate a number of possible ways of completing an acquisition of Buckhorn It said it hopes that Buckhorns board will reevaluate its position and enter into meaningful negotiations