Zimmer Family Completes Acquisition of Reeds Jewelers, Inc.
27 Maio 2004 - 8:03PM
PR Newswire (US)
Zimmer Family Completes Acquisition of Reeds Jewelers, Inc.
WILMINGTON, N.C., May 27 /PRNewswire-FirstCall/ -- Sparkle, LLC, a
North Carolina limited liability company formed by members of the
Zimmer Family ("Sparkle"), announced today that it has successfully
completed its acquisition of Reeds Jewelers, Inc. ("Reeds")
(AMEX:RJI). Following the completion of its tender offer for all
outstanding shares of common stock of Reeds not held by Sparkle and
its affiliates, Sparkle Acquisition, Inc., a wholly-owned
subsidiary of Sparkle, was merged into Reeds. Immediately prior to
the merger, Sparkle Acquisition, Inc., held approximately 98% of
the outstanding shares of Reeds. Pursuant to the merger, Reeds'
shareholders who did not tender their shares of Reeds in the tender
offer, and who do not exercise their dissenters' rights under North
Carolina law, had their shares converted into the right to receive
$2.05 per share, the same per-share purchase price provided in the
tender offer. Reeds' shareholders will be promptly mailed detailed
instructions outlining the steps that such shareholders must take
in order to obtain payment or exercise their dissenters' rights
under North Carolina law. As a result of the merger, Reeds has
become a wholly-owned subsidiary of Sparkle. NOTICE FOR REEDS
SHAREHOLDERS Reeds' shareholders and other interested parties are
urged to read Sparkle's tender offer statement, filed with the SEC
by Sparkle, Alan M. Zimmer, Herbert J. Zimmer, Jeffrey L. Zimmer,
Arlene Z. Schreiber, Rose W. Zimmer, Bradley Trent Zimmer, Landon
Garrett Zimmer, Andrew Michael Schreiber, Mark Harrison Schreiber,
and Sparkle Acquisition, Inc., and other relevant documents filed
with the SEC, because they contain important information. Reeds'
shareholders will be able to receive such documents free of charge
at the SEC's web site, http://www.sec.gov/ , or by contacting The
Altman Group, Inc., the Information Agent for the transaction, at
(201) 460-1200 (banks and brokers), and for all others, toll free
at (800) 249-7123. DATASOURCE: The Zimmer Family CONTACT: Herb
Zimmer of The Zimmer Family, +1-910-763-4669, ext. 202 Web site:
http://www.reeds.com/
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