PITTSBURGH — L.B. Foster Co. announced that its wholly-owned subsidiary, Foster Thomas Co., has extended its cash tender offer for all outstanding shares of common stock of Portec Rail Products Inc. 5 p.m. on Dec. 22.
The tender offer was previously set to expire at 5:00 p.m., New York City Time on December 21, 2010.
As of Dec. 21, approximately 991,424 shares of common stock had been tendered in the subsequent offering period and Foster Thomas Co. has accepted for payment all tendered shares. Foster Thomas Co. now owns approximately 8.6 million Portec shares, representing approximately 89.78 percent of Portec outstanding shares.
