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$500,000 and $675,000 upon the sales of Vapor Corporation and
Brunswick's Nireco stock, respectively.
Brunswick sold the following businesses from its Technical
group on the dates and at the prices indicated:
Transaction Date Sales Price
Nireco - 400,000 shares October, 1989 $16,606,964
Energy Conservation SystemsMay 11, 1990 37,220,000
Vapor AC June 27, 1990 4,515,000
Nireco - 2,386,000 shares July 1990 91,061,851
TXT (Valve & Control) August 24, 1990 22,532,000
Circle Seal September 6, 1990 24,500,000
MIMS September 6, 1990 845,000
Nireco - 450,000 shares September, 1990 13,433,275
Vapor December 21, 1990 39,502,000
The $22,532,000 sales price for TXT included a $7,500,000
promissory note. On December 28, 1990, Brunswick received
$5,500,000 in exchange for cancellation of the note.
On October 22, 1990, Brunswick paid Merrill Lynch
$1,210,493--an amount equal to 1.125 percent of the proceeds from
the sale of 2,836,000 Nireco shares, plus an additional $925,000
pursuant to the March 28 and September 4, 1990, amendments to the
Nireco fee agreement.
On January 18, 1991, Brunswick paid Merrill Lynch
$1,161,116--an amount equal to 1.25 percent of the proceeds from
the sale of Vapor Corporation and Vapor AC, and 2.5 percent of
the sales price of TXT, plus an additional $1,750,000 pursuant to
the March 28 and September 4, 1990, amendments to the IPD fee
agreement.
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