	hutton efh ends purolator pcc bid emery air freight corp said it has entered into an agreement with e f hutton group inc efh under which hutton will terminate its merger agreement with purolator courier corp and its pending dlr per share tender offer effective april under its merger agreement hutton has the right to unilaterally terminate the merger agreement under certain circumstances including its receipt of less than pct of purolator shares or the start of a higher competing tender offer such as emery s competing dlr per share offer for purolator stock yesterday hutton s pc uisition corp subsidiary extended its tender offer which was to have expired at midnight for two more days it said it only about shares or pct of purolator shares had been tendered and not withdrawn down from an pct interest held earlier emery s bid expires april emery said pending the termination of pc uisition s merger agreement pc has released purolator from an agreement not to discuss emery s uisition proposal with emery emery said as a result it is renewing its request that purolatr enter into merger negotiations with it emery said if it were to uire pct of purolator shares or control of the purolator board it has agreed not to dispute pc uisition s right to receive fees that purolator agreed to pay if pc were unsuccessful in uiring control of purolator due to the uisition of control by another party the company said it has also agreed to let purolator pay all of pc uisition s documented expenses in connection with the merger agreement up to three mln dlrs and emery has agreed to pay the amounts itself should purolator fail to do so reuter 
