The Offer and Merger. Section 1.1 The Offer....................................................1 Section 1.2 Company Actions..............................................3 Section 1.3 Directors....................................................4 Section 1.4 The Merger...................................................5 Section 1.5 Effective Time...............................................5 Section 1.6 Closing....................................................
The Offer and Merger. (a) Provided that none of the events set forth in the Annex A hereto shall have occurred and be continuing, as promptly as practicable and in any event within five (5) business days hereof, Parent shall cause Merger Sub to commence (within the meaning of Rule 14d-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), an offer to purchase (the “Offer”) all outstanding shares of the common stock of the Company, par value $.01 per share (the “Common Shares”) at a price of $8.85 per share, net to the seller in cash (the “Offer Consideration”). The obligations of Parent and Merger Sub to commence the Offer, consummate the Offer, accept for payment and pay for Common Shares validly tendered in the Offer and not withdrawn shall be subject only to those conditions set forth on Annex A hereto.
(b) Parent and Merger Sub expressly reserve the right to amend or modify the terms of the Offer, except that, without the prior written consent of the Company, Merger Sub shall not (and Parent shall not cause Merger Sub to) (i) decrease the Offer Consideration or change the form of consideration therefor or decrease the number of Common Shares sought pursuant to the Offer, (ii) change the conditions to the Offer set forth in Annex A hereto in a manner materially adverse to the holders of Common Shares, (iii) impose material conditions to the Offer in addition to those set forth in Annex A, (iv) waive the condition that there shall be validly tendered and not withdrawn prior to the time the Offer expires a number of Common Shares which would constitute at least 51% of the Common Shares outstanding on a fully-diluted basis on the date of purchase (“on a fully-diluted basis” means, as of any date, the number of Common Shares outstanding, together with Common Shares which the Company may be required to issue pursuant to obligations outstanding and exercisable at that date under employee stock option or similar benefit plans, warrants or otherwise, but excluding the Parent Stock Option and any options and similar rights the exercise price of which is greater than the Offer Consideration) (the “Minimum Condition”), (v) extend the expiration date of the Offer (except as set forth in the following sentence), or (vi) amend any term of the Offer in any manner adverse to holders of Common Shares; provided, however, that, except as set forth above, Merger Sub may waive any other condition to the Offer in its sole discretion. Subject to the terms of the Offer and t...
The Offer and Merger. 6 2.1 The Offer......................................... 6 2.2
The Offer and Merger. 2 1.1 The Offer; Merger Election...................................... 2 1.2
The Offer and Merger. 11 2.1 THE OFFER..............................................................................................11
The Offer and Merger. 1 Section 1.1. The Offer 1 Section 1.2. Voting Agreement 3 Section 1.3. Company Action 3 Section 1.4. Directors 4 Section 1.5. The Merger 4 Section 1.6. Effective Time 5 Section 1.7. Closing 5 Section 1.8. Directors and Officers of the Surviving Corporation 5 Section 1.9. Subsequent Actions 5 Section 1.10. Stockholders' Meeting 6 Section 1.11. Merger Without Meeting of Stockholders 6 ARTICLE 2
The Offer and Merger. The Offer. 2 Section 1.2
The Offer and Merger. The Offer…………………………………………………………………….................................................................................................................................................. 2 Section 1.2 Company Actions……………………………………………………………............................................................................................................................................... 4 Section 1.3 Directors……………………………………………………………………................................................................................................................................................... 6 Section 1.4 The Merger………………………………………………………………….................................................................................................................................................. 7 Section 1.5 Effective Time……………………………………………………………….................................................................................................................................................. 8 Section 1.6 Closing……………………………………………………………………….................................................................................................................................................. 8 Section 1.7 Directors and Officers of the Surviving Corporation………………………............................................................................................................................................ 8 Section 1.8 Subsequent Actions....................................................................................................................................................................................................................................... 8 Section 1.9 Preparation of Proxy Statement; Stockholders' Meeting…………………….......................................................................................................................................... 9 Section 1.10 Merger Without Meeting of Stockholders…………………………………............................................................................................................................................. 11
The Offer and Merger
