ISP Aims to Boost Hercules Stake to 18 Percent

摘要

Jockeying for position in the midst of a heated procy fight, International Specialty Products Inc. (ISP), led by chairman Samuel J. Heyman, plans to double its 9 percent stake in Hercules Inc. to 18 percent through a tender offer to buy 5 million additional Hercules shares at US12 per share and another 5 million by way of opern market purchases. The tender offer is conditional upon the elelction of four of ISP's nominees toi Hercules' board at the Hercules annual meeting on July 25.