Bell & Howell Co, Skokie, Illinois, has reached definitive agreement to be acquired by BHW Acquisition Corp, an investment group formed to acquire the company. The terms are $64 cash per common and preferred share. BHW consists of the Robert M Bass Group Inc and members of Bell & Howell management. Affiliates of Robert M Bass Group Inc own 16.2% of the company’s common. Leaving the door open to Robert Maxwell, who may not after all be out of the picture, and others, Bell & Howell may terminate the agreement if the board wants to recommend or enter into an agreement for a transaction in which shareholders would receive more than $64 per share.
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