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EnergySolutions, Inc.
, a leader in nuclear commercial services, today announced that it
has signed an amendment to its definitive acquisition agreement with a
subsidiary of Energy Capital Partners II, LLC ("Energy Capital" or "ECP").
Under the terms of the amended agreement, EnergySolutions' shareholders will
now receive $4.15 in cash for each share of common stock.
Carlson Capital, L.P., the largest beneficial institutional owner of the
Company's stock, who had previously voiced opposition to the acquisition,
has informed the Company that they intend to vote in favor of the
transaction based on the amended terms.
"We are extremely pleased to have reached this amended agreement with Energy
Capital," stated David Lockwood, CEO and President of EnergySolutions. "We
strongly believe that this offer provides compelling value for our
shareholders and will enables us to continue to execute on our strategic
plan by providing the investment capital to de-lever our balance sheet and
grow our business. We have been able to visit with many of our larger
shareholders and value their support of this transaction."
"We have increased the purchase price principally to gain broader support of
shareholders for this transaction," said Tyler Reeder, a Partner at ECP.
"The increased offer reflects our dedication to EnergySolutions and the
important work that they do." ECP also stated that the enhanced merger
consideration constitutes a "best and final" offer.
The ECP acquisition of EnergySolutions is subject to remaining closing
conditions, including regulatory approvals by the Nuclear Regulatory
Commission and the State of Utah as well as approval by EnergySolutions'
stockholders at the special stockholders meeting on April 26, 2013.
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