HICKS/HAAS GROUP HAS SPECTRADYNE <SPDY.O> FUNDS
SPI Holding Inc, a group consisting of
Hicks and Haas and Acadia Partners LP, said it has received
commitments for the senior bank financing needed to complete
its proposed acquisition of Spectradyne Inc for 46 dlrs a share
in cash or securities, or a total of about 452 mln dlrs.
    The transaction was conditioned on the arrangement fo
financing by today.
    It said it has also executed multi-year employment and
non-competition agreements with five Spectrayne senior managers.
 Reuter
