ATC Technology Corporation Announces Completion of Merger With GENCO Distribution System, Inc.
22 Outubro 2010 - 12:15PM
ATC Technology Corporation (ATC) (Nasdaq:ATAC), today announced
that it has completed its merger with GENCO Distribution System,
Inc. and is now a wholly-owned subsidiary of GENCO.
Under the terms of the merger agreement, ATC stockholders will
receive $25.00 per share in cash, without interest and less
applicable withholding taxes. Letters of transmittal enabling
ATC stockholders of record to deliver their shares to the paying
agent in exchange for payment of the merger consideration will be
distributed shortly. If your shares of ATC common stock are
held in "street name" by your broker, bank or other nominee, you
will receive instructions after the effective time of the merger
from your broker, bank or other nominee as to how to effect the
surrender of your "street name" shares and receive cash for those
shares.
With the closing of the transaction, trading in ATC common stock
will be halted at the close of business today.
Robert W. Baird & Co. Incorporated served as financial
advisor to ATC and Gibson, Dunn & Crutcher LLP served as legal
advisor to ATC. Macquarie Capital (USA) Inc. served as
financial advisor and Republic Partners, Inc. served as strategic
advisor to GENCO. Paul, Weiss, Rifkind, Wharton & Garrison
LLP and Thorp, Reed & Armstrong LLP served as legal counsel to
GENCO. The acquisition was financed through the application of
proceeds from the sale of GENCO shares to affiliates of Greenbriar
Equity Group LLC, from borrowings under a new line of credit
extended to GENCO by PNC Bank, National Association, and Wells
Fargo Bank, N.A. and through the application of cash on
hand. Hughes Hubbard & Reed LLP served as legal counsel to
Greenbriar. Buchanan Ingersoll & Rooney PC served as legal
counsel to PNC and Wells Fargo.
For further information, please see ATC's periodic reports and
other information filed with the Securities and Exchange
Commission.
About GENCO Supply Chain Solutions
GENCO Supply Chain Solutions is North America's 2nd largest and
a Global Top 50 third-party logistics provider and the recognized
leader in reverse logistics. The company manages 112 operations and
37 million square feet of warehouse space throughout North America
for a diverse range of retail, manufacturing and government
customers, including many Fortune 500 companies. The company
provides initial and ongoing value through a complete range of
solutions, including contract logistics, transportation logistics,
parcel negotiation and audits, reverse logistics, damage research,
product liquidation, pharmaceutical services, government solutions
and supply chain technology solutions. For more information, visit
www.genco.com.
About ATC Technology Corporation
ATC is headquartered in Downers Grove, Illinois. ATC
provides comprehensive engineered solutions for logistics and
refurbishment services to the consumer electronics industries and
the light-, medium- and heavy-duty vehicle service parts
markets.
The ATC Technology Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5184
CONTACT: ATC Technology Corporation
Mary Ryan
630.663.8283
maryan@corpatc.com
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