LCA-Vision Announces ISS and Glass, Lewis Recommend Stockholders Vote in Favor of $5.37/Share Cash Acquisition by PhotoMedex
LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus® brand, today announced that two leading proxy advisory firms, ISS Proxy Advisory Services and Glass, Lewis & Co., has each issued a recommendation that LCA-Vision Inc. stockholders vote in favor of all proposals related to its acquisition by PhotoMedex, Inc. for $5.37 per share in cash at its Special Meeting of Stockholders scheduled to be held on May 7, 2014.
Michael Celebrezze, Chief Executive Officer of LCA-Vision, said, "We are very pleased that the favorable recommendations by these two independent advisory firms validate the efforts by LCA-Vision's board of directors to maximize the value of our company for our stockholders. We proceeded in our negotiations with utmost care and are confident that this proposed acquisition is in the best interests of all our constituencies."
ISS said that "The offer represents a considerable premium, the board's rationale appears sound, and the market reaction was positive."
On February 13, 2014, LCA-Vision Inc. and PhotoMedex, Inc. entered into an Agreement and Plan of Merger providing for the acquisition of LCA-Vision by PhotoMedex. Pursuant to the terms of the merger agreement, a wholly owned subsidiary of PhotoMedex will be merged with and into LCA-Vision, with LCA-Vision surviving the merger as a wholly owned subsidiary of PhotoMedex. A Special Meeting of LCA-Vision Stockholders will be held on May 7, 2014 at the Queen City Club, 331 East Fourth Street, Cincinnati, OH 45202 at 9:00 a.m., Eastern time, to consider and vote on a proposal to adopt the merger agreement and related matters.
If you have any questions or require assistance in voting your proxy, please call our proxy solicitor Georgeson Inc. toll-free at (800) 676-0194.
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