TECSYN <TSNA.TO> TERMINATES TAKEOVER TALKS
TecSyn International Inc
said it terminated takeover discussions with a U.S.-based
investors group after the group was unable to establish access
to funds to complete the proposed transactions, contrary to
previous assurances.
    TecSyn previously said it and its controlling shareholders
accepted in principle a proposal from the group to offer nine
dlrs a share for 70 pct of TecSyn's outstanding shares.
    The investor group also planned to invest 22.5 mln dlrs in
a private placement of four mln non-voting TecSyn common
shares, the company said.
 Reuter
