Thursday, December 01, 2005
NATIONAL RV REJECTS BUY-OUT OFFER
In a letter to the group, National RV said it expects to create more value for shareholders through improvements to its business strategy.
Last week, investors B. Riley & Co., SACC Partners and National RV founder Robert Lee offered to buy the company for $6.25 a share in cash, a nearly 10 percent premium over the stock's previous closing price. The group made the offer through a newly formed entity called CC Acquisition Group Inc.
National RV shares jumped up to match the purchase offer last week, but then slipped slightly and closed Friday at $6.37 on the New York Stock Exchange.
National RV also said in the letter that CC Acquisition may have acquired more than 15 percent of its outstanding shares, a violation of the company's shareholder rights policy, and suggested that Lee may have breached certain fiduciary duties by disclosing confidential information to B. Riley. The company requested documentation from CC about its equity stake and conversations between the would-be acquirers.
National RV added that it is making changes to its shareholder rights plan to eliminate provisions related to continuing directors and instituting certain bylaw amendments.
Wednesday, November 30, 2005
RV PARTS ORDERING FOR DEALERS
SLIME / 1013-A
SLIME / 1015-A
SLIME / TIRE PRESSURE INDICATOR
Manufacturer : ACCESSORIES MARKETING, INC.
NHTSA CAMPAIGN ID Number : 05E076000
Mfg's Report Date : NOV 23, 2005
Potential Number Of Units Affected : 42204
Summary: CERTAIN SLIME (ACCESSORIES MARKETING, INC.) TIRE PRESSURE INDICATOR VALVE CAPS (PIVC), P/NOS. 1013-A AND 1015-A, MANUFACTURED BETWEEN JANUARY 2004 AND AUGUST 2005 SOLD AS AFTERMARKET EQUIPMENT THROUGH AUTOZONE. THE DEFECTIVE PIVCS CAN ALLOW AIR TO ESCAPE FROM THE TIRE, RESULTING IN A LOSS OF TIRE PRESSURE.
Consequence: SHOULD THIS OCCUR WHILE THE VEHICLE IS IN USE, THE DRIVER COULD LOSE CONTROL, POSSIBLY RESULTING IN A VEHICLE CRASH.
Remedy: CUSTOMERS SHOULD RETURN THE DEFECTIVE PIVCS TO AUTOZONE OR CONTACT SLIME AT 1-888-45-SLIME (888-457-5463) FOR A FULL REFUND.