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Indian Creek Investors LP, a
private investment fund and a large shareholder of EnergySolutions sent a
letter to EnergySolutions suggesting a recapitalization with Energy Capital
Partners rather than the recently announced sale of EnergySolutions to Energy
Capital Partners at $3.75 per share in cash. Gary Siegler, the manager of
Indian Creek Investors stated in the letter to the Board of Directors, "In our
view EnergySolutions is worth considerably more than the $3.75 per share
offered by Energy Capital Partners" and requested that "if the Board moves
forward on a transaction with Energy Capital Partners, that you consider
modifying it as a recapitalization where shareholders who wish to remain
invested alongside Energy Capital Partners and Company management may do so,
with only those shareholders who prefer to sell at $3.75 per share cashed out
by Energy Capital Partners."
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