Medical Action rebuffs advances made by Medline Industries

By Angela McDaniels

Tacoma, Wash., March 27 - Medline Industries, Inc. has inquired about a possible strategic transaction with Medical Action Industries, Inc. several times over the last nine months and has been rejected each time, according to a schedule 13D filing with the Securities and Exchange Commission.

The most recent inquiry was made March 18.

An investor group that includes Medline and several of its executive officers beneficially owns 1,383,777 shares, or 8.64%, of Medical Action's common stock.

The group purchased 935,603 shares of Medline stock for $5.61 to $8.82 each between Jan. 30 and March 23.

Medical Action makes disposable medical products and is based in Hauppauge, N.Y.

Medline is a privately held manufacturer of health care supplies and services based in Mundelein, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.