NEW YORK, May 2, 2006 (PRIMEZONE) -- Bexil Corporation (AMEX:BXL) announced today its business acquisition parameters:
1) A proven track record with demonstrated earning power. 2) Sales of between $10 million and $50 million. 3) A seasoned business with solid customer relations. 4) Good return (at least 15%) on equity, little or no debt. 5) Solid management must remain. Audited financials required. 6) Particularly interested in a "spin-off" from a larger company.
Thomas Winmill, President of Bexil, said, "With the $39 million proceeds from the sale on April 28, 2006 of its operating unit, Bexil will seek to acquire and/or develop one or more businesses. We are not interested in acquiring start-ups, turnarounds, or high tech. We will sign a confidentiality agreement and will protect broker's sell agreements. If the seller quotes a price, we will respond promptly."
Bexil is a holding company. Approximately 25% of Bexil's shares are owned by Winmill & Co. Incorporated (Pink Sheets:WNMLA), which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds, as well as through proprietary securities trading.
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