>Illinois Tool Works Inc. is a diversified manufacturer of highly engineered components and industrial systems and consumables.(http://www.itwinc.com/)
>Quipp, Inc., through its operating subsidiary, Quipp Systems, Inc., designs, manufactures and installs material handling systems and equipment to facilitate the automated inserting, assembly, bundling and movement of newspapers from the printing press to the delivery truck. (http://www.quipp.com/)
Illinois Tool Works Inc. will acquire Quipp for a price between $4.30 and $5.65 per share in cash, with the definitive price to be determined based on adjustments relating to the amount of Quipp's cash and cash quivalents and specified indebtedness prior to consummation of the transaction. Quipp will not proceed with the transaction if the adjusted price would be less than $4.30 per share, which Quipp believes is unlikely.
