Hardinge Advises Shareholders to Defer Taking Any Action in Response to Romi Tender Offer
30 Março 2010 - 2:00PM
Business Wire
Hardinge Inc. (NASDAQ: HDNG) (“Hardinge”) today advised its
shareholders to defer taking any action in response to a tender
offer by Industrias Romi S.A. (Bovespa: ROMI3) (“Romi”) offering to
acquire all of the outstanding shares of Hardinge for $8.00 per
share in cash.
On February 18, 2010, Hardinge’s Board rejected Romi’s proposal
at the same price.
Consistent with its fiduciary duties, and in consultation with
its independent financial and legal advisors, the Board will review
the tender offer and make a recommendation to shareholders within
10 business days. The Company will send to its shareholders a
solicitation/recommendation statement describing the reasons for
the Board’s position and recommendation. Shareholders are urged to
read the solicitation/recommendation statement when it becomes
available because it will contain important information.
Jefferies & Company, Inc. is acting as financial advisor to
Hardinge and Wachtell, Lipton, Rosen & Katz is providing legal
advice. Questions and requests for assistance regarding the tender
offer may be directed to Hardinge’s Information Agent, Okapi
Partners LLC, toll-free at (877) 279-2311.
About Hardinge Inc.
Hardinge is a global designer, manufacturer and distributor of
machine tools, specializing in SUPER
PRECISION™ and precision CNC
Lathes, high performance Machining Centers, high-end cylindrical
and jig Grinding Machines,
and technologically advanced Workholding & Rotary Products. The Company’s products
are distributed to most of the industrialized markets around the
world with approximately 68% of the 2009 sales outside of North
America. Hardinge has a very diverse international customer base
and serves a wide variety of end-user markets. This customer base
includes metalworking manufacturers which make parts for a variety
of industries, as well as a wide range of end users in the
aerospace, agricultural, transportation, basic consumer goods,
communications and electronics, construction, defense, energy,
pharmaceutical and medical equipment, and recreation industries,
among others. The Company has manufacturing operations in the
United States, Switzerland, Taiwan, and China. Hardinge’s common
stock trades on NASDAQ Global Select Market under the symbol,
“HDNG.” For more information, please visit
http://www.hardinge.com.
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