Zones Shareholders Approve Going-Private Transaction
19 Diciembre 2008 - 3:00PM
Marketwired
Zones, Inc. (NASDAQ: ZONS) announced that its shareholders, at a
special meeting held today, voted to approve the going-private
transaction pursuant to which Zones will become a private company
wholly owned by Firoz Lalji (Zones' Chief Executive Officer,
Chairman of the Board and majority shareholder) and certain of his
related parties. Upon the closing of the transaction, each share of
Zones common stock (other than those held by Mr. Lalji, certain of
his related parties and any dissenting shareholders) will be
converted into the right to receive $7.00 in cash, without interest
and less any applicable withholding taxes.
The transaction is expected to close on December 31, 2008, and
remains subject to the satisfaction of customary closing
conditions. Although the transaction is not subject to a financing
condition, there can be no assurance that the anticipated equity
and debt financing necessary to complete the transaction will be
available to fund the merger consideration. Zones may seek specific
performance of the other party's obligations to pursue financing
for the transaction; however, it may be difficult or impossible to
obtain alternative financing on acceptable terms and
conditions.
About Zones, Inc.
Zones, Inc. is a single-source direct marketing reseller of
name-brand information technology products to the
small-to-medium-sized business market, enterprise accounts and
public sector accounts. Zones sells these products through outbound
and inbound account executives, a national field sales force,
catalogs and the Internet. Zones offers more than 150,000 products
from leading manufacturers including Adobe, Apple, Avaya, Cisco,
HP, IBM, Kingston, Lenovo, Microsoft, NEC, Nortel Networks, Sony,
Symantec and Toshiba.
Incorporated in 1988, Zones, Inc. is headquartered in Auburn,
Washington. Buying information is available at
http://www.zones.com, or by calling 800-258-2088. The Company's
investor relations information can be accessed online at
www.zones.com/IR.
Forward-Looking Statements
This press release may contain statements that are
forward-looking. These statements are made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995. These statements are based on current expectations that are
subject to risks and uncertainties that could cause actual results
to differ materially from historical results or those anticipated.
For example, there can be no assurance that the conditions to
closing specified in the merger agreement will be satisfied. In
connection with the going private transaction, we are subject to
several risks, including (i) if the merger is not consummated, the
stock price would likely retreat from its current trading range;
(ii) certain costs relating to the merger, including legal,
accounting and financial advisory fees, are payable by us whether
or not the merger is completed, and these costs will be substantial
and may materially reduce our earnings per share; and (iii) our
management's and our team members' attention will be diverted from
our day-to-day operations, we may experience team member attrition,
and our business, including our vendor and customer relationships,
may be disrupted during the period while the going private
transaction remains pending, all of which risks could increase if
the transaction is not consummated; and other risks and
uncertainties detailed in our periodic and current reports filed
with the SEC.
Contact: Ronald McFadden Zones, Inc. Chief Financial Officer
253-205-3000
Zones (NASDAQ:ZONS)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Zones (NASDAQ:ZONS)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024