September 16, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — SL Industries, Inc. (AMEX: SLI) is launching a modified "Dutch auction" tender offer to purchase up to $20 million in shares of its common stock.  The closing price of the company's common stock on AMEX on September 14 was $13.17.

The company said it plans to pay for the repurchases with cash on hand and from available borrowings to be made under its existing credit facility.

The tender offer will proceed by way of a "modified Dutch auction," under which the company's shareholders may tender all or a portion of their common shares at a price of not less than $13.00 and not more than $14.50, in increments of $0.25 per share, or without specifying a purchase price, in which case their common shares will be purchased at the purchase price determined in accordance with the tender offer.

When the tender offer expires, the company will select the lowest price within the range of prices specified above, enabling the company to purchase the maximum number of shares having an aggregate purchase price not exceeding $20 million.

New Jersey-based SL Industries designs, manufactures and markets power electronics, power motion, power protection, teleprotection and communications equipment and systems that are used in a range of medical, aerospace, computer, datacom, industrial, telecom, transportation and electric power utility equipment applications.

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