BRYAN - Ohio Art Co. said yesterday it is extending its offer to buy stock from shareholders holding 99 or fewer shares. The toymaker is trying to reduce the number of shareholders to fewer than 300 so it can eliminate the need for some financial reporting other regulatory requirements.
The offer from Ohio Art was to have expired March 3, but that deadline was extended until yesterday. The offer is now to expire at 5 p.m. April 12. The firm said 57 shareholders have tendered 2,441 shares so far. The stock is traded on the Pink Sheets system.
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