Hirsch International (HRSH) Receives Additional Extension to Review Acquisition Offer
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Hirsch International Corp. (NASDAQ: HRSH) received a letter from Paul Gallagher, President, Chief Executive Officer and Chief Operating Officer of the Company, proposing to acquire, through acquisition entities to be formed by him, all of the outstanding shares of the Company's Class A and Class B Common Stock, for $0.28 per share in cash, other than shares held by Mr. Gallagher and any investor that may invest in his acquisition entities. Mr. Gallagher's letter provided that his offer was subject to conditions contained in the letter, and that his offer would expire on June 25, 2009.
On June 24, 2009, the Special Committee requested that Mr. Gallagher extend the expiration date of his offer and Mr. Gallagher agreed to such request by extending the expiration date to June 30, 2009.
On June 29, 2009, the Special Committee again requested that Mr. Gallagher extend the expiration date of his offer and Mr. Gallagher agreed to such request. The new expiration date for Mr. Gallagher's offer is July 2, 2009.
Hirsch is a provider of equipment and education and support services to the graphic and decorated apparel industry.[SM]
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