L.B. Foster Co. announced Friday that it is extending its previously announced cash tender offer for all outstanding shares of common stock of Portec Rail Products, Inc., until July 30. The tender offer, made through wholly owned subsidiary Foster Thomas Co., was previously set to expire June 1.
As of May 27, 5,658,470 shares of common stock had been tendered in and not withdrawn from the offer. These tendered shares constituted 58.93% of the outstanding shares of common stock.