PAPERBOARD PLANS BID TO ACQUIRE BELKIN
<Paperboard Industries Corp> said it
planned to make an unconditional 21 dlr a share cash offer for
<Belkin Inc>'s 7.6 mln common and 2.3 mln non-voting shares.
    Paperboard said Balaclava Enterprises Ltd, owned by Morris
Belkin, agreed to tender 98.2 pct of Belkin's common shares.
It added that in case of a competing offer of more than 23
dlrs, it had the right to match it. If it did not match the
offer, Balaclava could accept the competing bid.
    The two companies manufacture linerboard and boxboard from
recycled fibre. Their combined revenues are about 500 mln dlrs.
 Reuter
