January 10, 2001 Dear Fellow Shareholders: We are pleased to inform you that on December 28, 2000, The Langer Biomechanics Group, Inc. ("Langer") entered into a Tender Offer Agreement (the "Agreement") with OrthoStrategies, Inc., a New York...Offer Agreement • January 10th, 2001 • Langer Biomechanics Group Inc • Orthopedic, prosthetic & surgical appliances & supplies
We are pleased to inform you that on December 28, 2000, The Langer Biomechanics Group, Inc. ("Langer") entered into a Tender Offer Agreement (the "Agreement") with OrthoStrategies, Inc., a New York corporation ("OS"), and OrthoStrategies Acquisition Corp., a New York corporation and wholly owned subsidiary of OS ("Purchaser"), pursuant to which Purchaser has today commenced a tender offer (the "Offer") to purchase up to 75% of the issued and outstanding shares of common stock, par value $.02 per share, of Langer (the "Shares"), at a price of $1.525 per Share in cash.
