April 27, 2009Merger Agreement • April 27th, 2009 • Infocus Corp • Computer peripheral equipment, nec
We are pleased to inform you that InFocus Corporation (“InFocus”) has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Image Holdings Corporation (“IHC”) and IC Acquisition Corp., a wholly owned subsidiary of IHC (“Purchaser”). IHC and Purchaser are controlled by John Hui, an accomplished entrepreneur. Pursuant to the Merger Agreement, Purchaser has commenced a tender offer (the “Offer”) for each share of InFocus common stock, at a price per share of $0.95 net to the seller in cash, without interest and subject to any required withholding of taxes. The Offer is subject to conditions, including the tender of a minimum of 65% of the outstanding shares of InFocus common stock on a fully diluted basis, the absence of a material adverse change with respect to InFocus, and other customary conditions. If successful, the Offer will be followed by the merger of Purchaser into InFocus (the “Merger”), as a result of which each share of InFocus common stock not purchased
