ALBA-WALDENSIAN, INC. Post Office Box 100 201 St. Germain Avenue, SW Valdese, North Carolina 28690 November 12, 1999 To our Stockholders: On behalf of your Board of Directors, I am pleased to inform you that on November 8, 1999, Alba- Waldensian, Inc....Merger Agreement • November 12th, 1999 • Alba Waldensian Inc • Knitting mills
On behalf of your Board of Directors, I am pleased to inform you that on November 8, 1999, Alba-Waldensian, Inc. ("Alba-Waldensian") entered into an Agreement and Plan of Merger (the "Merger Agreement") with AWS Acquisition Corp., a Delaware corporation ("Purchaser"), and Tefron U.S. Holdings Corp., a Delaware corporation ("Parent"). Purchaser is a wholly-owned subsidiary of Parent, and Parent is a wholly-owned subsidiary of Tefron, Ltd., a New York Stock Exchange listed company. The Merger Agreement provides for the acquisition of Alba-Waldensian by Parent.
