Theragenics Reports End of Go-Shop Period, Says No Parties Submitted Proposal to Buy
Theragenics Corporation^® (NYSE: TGX) (the “Company”), a medical device company serving the surgical products and prostate cancer treatment markets, announced today the expiration of the 35-day “go-shop” period pursuant to the terms of the previously announced merger agreement providing for a newly formed affiliate of Juniper Investment Company, LLC to acquire all of the outstanding common stock of the Company for $2.20 per share in cash.
During the “go-shop” period, the Company was permitted, on the terms and subject to the conditions of the merger agreement, to initiate, solicit and encourage acquisition proposals from third parties for a period that commenced immediately following the execution of the merger agreement on August 2, 2013 and expired at 11:59 p.m. (New York City time) on September 6, 2013. During the “go-shop” period, the Company's financial advisor, VRA Partners, contacted 15 parties on behalf of the Company, including 9 financial parties and 6 strategic parties, to solicit indications of interest for potential alternative transactions. Including the parties that VRA contacted prior to August 2, 2013, VRA contacted a total of 42 parties. None of the parties contacted submitted a proposal to acquire the Company, and no other party has made an unsolicited proposal.
The Company also announced today that it will hold a special meeting of stockholders on October 17, 2013 to consider and vote on proposals to adopt the merger agreement, to cast an advisory vote on merger-related compensation and if necessary to approve any adjournment or postponement of the special meeting to permit further solicitation of proxies if there are insufficient votes at the time of the special meeting to adopt the merger agreement. The Company has set the close of business on September 16, 2013 as the record date for stockholders of record entitled to vote at the special meeting. The parties to the merger agreement currently expect to complete the merger during the fourth quarter of 2013, subject to stockholder approval and satisfaction of the closing conditions set forth in the merger agreement.
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