Theragenics Corporation^® 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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