"The eleventh-hour proposal by Greenmarine to negotiate a merger agreement just one day before its tender offer expires is a delaying tactic. Greenmarine says it is ready to proceed. Let it proceed.
"All the issues that would be contained in a merger agreement have been addressed. Taking the time to negotiate an agreement now would only further delay the process and force the Company to run the very real risk that the Detroit Diesel Corporation tender offer expires before an agreement can be finalized.
"We have taken the steps necessary to provide Greenmarine with a clear opportunity to close on its tender offer on its current expiration date of Thursday, September 11, 1997. We hope Greenmarine takes advantage of this opportunity. If it does not, we must conclude that either Greenmarine does not intend to close on its tender offer or that it is not in a position to do so."
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