Michael Baker Corporation BKR today said that it has received a
letter from DC Capital Partners proposing that KS International, LLC ("KSI"),
in which DC Capital has a controlling interest, acquire Baker at $24.25 per
share in cash and is prepared to immediately negotiate and execute definitive
agreements. The letter also states that DC Capital is in discussions with
investment banks and other financial institutions and expects to have fully
executed, underwritten financing commitments in the near future.
Baker's Board of Directors will review the proposal and respond in due course.
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