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The Chip Board Archive 06

Paul-Son and B et G to Merge!

Looks like the B et G/Paul-son/Jones merger has finally come to fruition. Here's a quick news blurb from Business Wire.
steve

LAS VEGAS & BEAUNE, France--(BUSINESS WIRE)--April 11, 2002--
Paul-Son Gaming Corporation (Nasdaq:PSON), Etablissements Bourgogne et
Grasset SA ("Bourgogne et Grasset") and Bourgogne et Grasset's
wholly-owned subsidiary The Bud Jones Company, Inc. ("Bud Jones")
today announced that they have entered into a definitive agreement for
the combination of the companies. Structured as an exchange agreement,
the stockholders of Bourgogne et Grasset will acquire 53.45% of
Paul-Son Gaming Corporation in exchange for 100% of the ownership
interests in Bourgogne et Grasset. Based on current shares
outstanding, an additional 3,969,026 shares of Paul-Son common stock
would be issued to the Bourgogne et Grasset stockholders, bringing
total shares outstanding upon consummation of the combination from its
present 3,456,654 shares to 7,425,680 shares. In addition, Bourgogne
et Grasset stockholders will be issued warrants to provide
antidilution protection against stock options and other stock
conversion rights outstanding at closing. Currently, 378,500 such
options and rights are outstanding. In addition, pursuant to the
agreement, Paul-Son will acquire 100% of the outstanding shares of Bud
Jones. Separately, Paul-Son's controlling stockholder, The Paul S.
Endy, Jr. Living Trust, has agreed to sell to the Bourgogne et Grasset
stockholders Paul-Son shares which, in combination with those shares
to be acquired through the share exchange, would bring the Bourgogne
et Grasset stockholders' post-combination ownership to approximately
63.6% of Paul-Son. The transaction will be accounted for on a purchase
basis and is expected to be accretive to Paul-Son's earnings.

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Paul-Son and Bourgogne to Merge!
Paul-Son and B et G to Merge!

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