Teknion Going Private As Controlling Shareholder Buys Rest of Company

The controlling shareholder of office furniture maker Teknion Corp. isoffering to buyall of the company in a friendly deal worth$76.8 million.An affiliate of A-Tean Holdings will pay $3.15 cash for each of the shares it doesn't already own. That's an 80 per cent premium over the $1.75 the shares closed at Friday on the TSX.In morning TSX trading Monday, Teknion stock was up $1.28 to $3.03."The board of directors of Teknion (other than directors affiliated with A-Tean), upon the recommendation of the special committee, has unanimously approved the transaction and recommends that shareholders vote in favour of the transaction," the company said in a release Monday.A shareholder vote will be scheduled for the first quarter of 2008. The deal is expected to close by April 15.A-Tean Holdings and its affiliates own 62 per cent of the outstanding shares of Teknion.In the year ended Nov. 30, 2006, Teknion reported annual sales of $631 million. In its most recent quarter, it turned a profit of $3.92 million.Despite a strong Canadian dollar, the Toronto-based company has managed to post growing U.S. sales this year. Its American business accounts for almost 60 per cent of its revenue.

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Office Furniture, Cost Effective Solution for Setting Up Your Office
While setting up an office, you need furniture. Without office stuff, it is not possible to set up a workplace whether it is a home office or the regular large office.Every owner wants to buy the office equipment that is economical to save money. For this, they have to take the following steps.First of all, it is the most important step to plan your workplace. You have to figure out the office stuff that is required. This is very important for running the business. You have to decide the essential items that are needed in the workplace. In this way you can save your money by buying the essential items that you truly need and avoiding the extra ones. If you have the budget then you can buy the items that are not essential.The next important step is to make a sketch of your workplace so that you can easily decide where you will put every piece of the furniture. Planning is very important if you want to save money. If any store is offering the office stuff at discount, you have to make sure whether the furniture present at the store fulfills your requirements. This approach will not only save your money but it will also help you save your time and you will be able to focus on the other stuffs.Now after knowing your budget and having a clear idea of the amount that you can spend, you can make a better decision about buying the office furniture. If you have tight budget, you can pick the option of leasing.Functionality has more importance than the appearance. The office furniture should be purchased according to the functionality as compared to the looks. It will also help in saving money.Just check which office furniture items you already have. It is more important when you have home furniture. If you already have some well designed items of office furniture, you must not buy it again. You should use those existing items for your office in order to save money.You should have to be creative with your requirements especially if you have a home workplace. You should find out the ways to fulfill your needs with your creative ideas.There is one more option for you to save money on your office furniture. The option is that you can swap it with anyone else. There may be some person who wants to exchange his office furniture, so you can buy from him.You can also buy the office furniture from different places like auction houses or may check classified ads for the old furniture. You have the option of buy used office furniture from estate sales, garage sale and government sales. Some hotels redecorate their guest rooms after some years so you can buy the old furniture from them. The old furniture is sold at lower price so you can save your money if you buy used furniture.
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