FIRST AMENDMENT TO AGREEMENT AND PLAN OF MERGER DATED AS OF SEPTEMBER 13, 2010 BY AND AMONG WILLIAM DEMANT HOLDING A/S OI MERGER SUB, INC. AND OTIX GLOBAL, INC.
Exhibit
2.1
FIRST
AMENDMENT
TO
DATED
AS OF SEPTEMBER 13, 2010
BY
AND AMONG
XXXXXXX
XXXXXX HOLDING A/S
OI
MERGER SUB, INC.
AND
FIRST AMENDMENT
TO
This FIRST AMENDMENT (this “Amendment”)
to the Agreement and Plan of Merger dated as of September 13, 2010 (the “Merger
Agreement”) by and among Xxxxxxx Xxxxxx Holding A/S (“Parent”), OI Merger Sub,
Inc. (“Merger Sub”), and Otix Global, Inc. (the “Company”) is dated as of
October 6, 2010.
RECITALS
WHEREAS, the parties entered into the
Merger Agreement;
WHEREAS, the Company received a
competing bid to purchase the Company following execution of the Merger
Agreement;
WHEREAS, the parties desire to enter
into this Amendment to the Merger Agreement to increase the Merger Consideration
and eliminate certain conditions to the closing of the transaction contemplated
by the Merger Agreement.
NOW, THEREFORE, in consideration of the
mutual representations, warranties, covenants and agreements contained in the
Merger Agreement and this Amendment, and such other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, on
the terms and subject to the conditions set forth in this Amendment, and
intending to be legally bound hereby, Parent, Merger Sub and the Company hereby
agree as follows:
AGREEMENT
The Merger Agreement is hereby amended
as follows:
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1.
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In
Section 2.07(a), the figure “$8.60” is replaced with
“$10.00”.
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2.
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Section
6.03(d) is deleted in its entirety and replaced to read as follows:
“Intentionally Omitted”.
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3.
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Section
6.03(e) is deleted in its entirety and replaced to read as follows:
“Intentionally Omitted”.
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4.
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The
following paragraph shall be added to the Merger Agreement as Section
3.01(u):
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(u) Competing
Offers. The Company has provided Parent with complete and
accurate information regarding any and all Acquisition Proposals, as provided in
Section 4.13, received by the Company on or before the date of this Amendment,
including all material terms and conditions of such Acquisition Proposals and
any material changes thereto.
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5.
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All
other terms and conditions of the Merger Agreement not expressly amended
as set forth above remain
unchanged.
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[Signature Page
Follows]
IN WITNESS WHEREOF, the parties have
caused this Amendment to be executed by their duly authorized officers as of the
day and year first above written.
XXXXXXX
XXXXXX HOLDING A/S
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By:
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/s/ Xxxxxxx Xxxxxx Holding
A/S
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Name:
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Xxxxxxx Xxxxxx Holding
A/S
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Title:
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OI
MERGER SUB, INC.
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By:
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/s/ OI Merger Sub, Inc.
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Name:
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OI Merger Sub, Inc.
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Title:
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By:
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/s/ Xxxxxx X. Xxxxxxxx
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Name:
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Xxxxxx X. Xxxxxxxx
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Title:
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Chairman and Chief Executive
Officer
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