Blount Stockholders Approve Acquisition by American Securities and P2 Capital Partners
07 Abril 2016 - 5:30PM
Blount International, Inc. (NYSE:BLT) (“Blount” or “Company”)
announced that, at a Special Meeting of Stockholders held on April
7, 2016, the holders of more than 75% of its shares voted to
approve the adoption of the agreement pursuant to which affiliates
of American Securities LLC and P2 Capital Partners, LLC will
acquire Blount. With the stockholder vote complete, all approvals
required to complete the transaction have been received. Subject to
the satisfaction or waiver of customary closing conditions, the
transaction is expected to close on or about April 12, 2016.
Upon closing, Blount stockholders will be entitled to receive
$10.00 in cash, without interest and less any applicable tax
withholding, for each share of Blount common stock they own.
Cautionary Statement Regarding
Forward-Looking
Statements“Forward-looking statements” in this
release, including without limitation statements regarding the
transaction, the expected timetable for completing the transaction,
the Company’s “outlook,” “expectations,” “beliefs,” “plans,”
“indications,” “estimates,” “anticipations,” “guidance” and their
variants, as defined by the Private Securities Litigation Reform
Act of 1995, are based upon available information and upon
assumptions that the Company believes are reasonable; however,
these forward-looking statements involve certain risks and should
not be considered indicative of actual results that the Company may
achieve in the future. There are a number of factors that could
cause actual results or events to differ materially from those
indicated by such forward-looking statements, in particular, among
other things, the ability to consummate the proposed transaction in
the time frame expected by the parties or at all; any conditions
imposed on the parties in connection with the consummation of the
proposed transaction; the satisfaction of the remaining conditions
to the consummation of the proposed transaction; the potential
impact of the announcement or consummation of the proposed
transaction on relationships, including with employees, suppliers
and customers; the ability of third parties to fulfill their
obligations relating to the proposed transaction, including
providing financing under current financial market conditions;
litigation relating to the proposed transaction; and the other
factors and financial, operational and legal risks or uncertainties
described in the Company’s public filings with the Securities and
Exchange Commission, including the “Risk Factors” and “Forward
Looking Statements” sections of the Company’s Annual Report on Form
10-K for the year ended December 31, 2015 and subsequent Quarterly
Reports on Form 10-Q. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements as a result of developments occurring after the date of
this document except as required by law.
About Blount InternationalBlount is a global
manufacturer and marketer of replacement parts, equipment, and
accessories for consumers and professionals operating primarily in
two market segments: Forestry, Lawn, and Garden (“FLAG”); and Farm,
Ranch, and Agriculture (“FRAG”). Blount also sells products in the
construction markets and is the market leader in manufacturing saw
chain and guide bars for chain saws. Blount has a global
manufacturing and distribution footprint and sells its products in
more than 110 countries around the world. Blount markets its
products primarily under the OREGON®, Carlton®, Woods®, TISCO,
SpeeCo®, ICS® and Pentruder® brands. For more information about
Blount, please visit our website at
http://www.blount.com.
Contact:
David Dugan
503.653.4692
Blount (NYSE:BLT)
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