EGI Acquisition Completes Tender Offer for Rewards Network
14 Dezember 2010 - 3:25PM
Business Wire
Equity Group Investments, L.L.C. (“EGI”), a private investment
firm, announced today that EGI Acquisition, L.L.C. (“EGI
Acquisition”) has successfully completed its tender offer to
acquire all of the shares of Rewards Network Inc. (“Rewards
Network”) (NASDAQ: DINE) common stock not owned by EGI Acquisition.
The tender offer expired at 12:00 midnight, New York City time, on
December 13, 2010.
Based upon information provided by American Stock Transfer &
Trust Company, LLC, the depositary for the tender offer, as of the
expiration of the offering period, Rewards Network stockholders had
validly tendered a total of 6,887,894 shares, or approximately 78%
of the outstanding shares, with an additional 113,105 shares
tendered by notice of guaranteed delivery. All shares that were
validly tendered in the tender offer (excluding shares tendered
under guaranteed delivery procedures) have been accepted for
payment. As a result of the purchase of the tendered shares and the
1,254,901 shares previously owned by EGI Acquisition, EGI
Acquisition now owns approximately 92% of the outstanding shares of
Rewards Network. Shares validly tendered in satisfaction of
guaranteed delivery procedures will also be accepted for payment
and promptly paid for.
As soon as practicable on December 14, 2010, EGI will cause EGI
Acquisition to complete a short-form merger with and into Rewards
Network. No vote of Rewards Network stockholders will be required
in connection with the merger. As a result of the merger, all
shares of Rewards Network common stock held by the remaining
stockholders of Rewards Network will be cancelled and, subject to
appraisal rights under Delaware law, converted into the right to
receive $13.75 per share in cash, the same consideration paid in
the tender offer. Following the completion of the merger, Rewards
Network’s common stock will cease to be traded on The NASDAQ Stock
Market, Inc.
About EGI
Equity Group Investments L.L.C. is a 40-year-old, Chicago-based
private investment firm, which has equity investments across the
globe in real estate, energy, logistics, transportation, media, and
health care. EGI’s current holdings also include fixed-income
investments in public and private companies.
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