Market Overview

Hardinge Stockholders Approve Merger With Privet


Hardinge Inc. (NASDAQ:HDNG), ("Hardinge" or the "Company") a leading
international provider of advanced metal-cutting solutions and
accessories, today announced that Hardinge shareholders voted at a
special meeting of shareholders held today to adopt the Agreement and
Plan of Merger, dated as of February 12, 2018 (the "Merger Agreement"),
by and among the Company, Hardinge Holdings, LLC, a Delaware limited
liability company ("Parent"), and Hardinge Merger Sub, Inc., a New York
corporation and a direct wholly owned subsidiary of Parent ("Acquisition
Sub"), pursuant to which Acquisition Sub will merge with and into the
Company (the "Merger"), with the Company surviving the Merger as a
wholly owned subsidiary of Parent. Parent and Acquisition Sub are
beneficially owned by affiliates of Privet Fund Management LLC and
Privet Fund LP (collectively, "Privet").

Based on a tabulation of the stockholder vote, approximately 98.91% of
all votes cast, which represents approximately 78.36% of all outstanding
shares on April 16, 2018, the record date for the special meeting, were
voted in favor of the merger. Hardinge shareholders also approved the
proposal to approve, on an advisory (non-binding) basis, certain
compensation that may be paid or become payable to the Company's named
executive officers in connection with the merger.

Under the terms of the Merger Agreement, Hardinge shareholders (other
than Privet Fund LP) will receive $18.50 per share in cash at the
closing of the merger. The merger is expected to be completed on or
about May 25, 2018, subject to customary closing conditions. Shares of
Hardinge common stock will be delisted from the NASDAQ upon completion
of the merger.

About Privet Fund Management LLC

Privet Fund Management LLC is a private investment firm focused on
investing in and partnering with small capitalization companies. The
firm has flexible, long-term capital with the ability to effectuate
investments across all levels of the capital structure, including
going-private transactions. Privet was founded in 2007 and is based in
Atlanta, GA.

About Hardinge

Hardinge is a leading global designer and manufacturer of high
precision, computer-controlled machine tool solutions developed for
critical, hard-to-machine metal parts and of technologically advanced
workholding accessories. The Company's strategy is to leverage its
global brand strength to further penetrate global market opportunities
where customers will benefit from the technologically advanced, high
quality, reliable products Hardinge produces. With approximately
two-thirds of its sales outside of North America, Hardinge serves the
worldwide metal working market. Hardinge's machine tool and accessory
solutions can also be found in a broad base of industries to include
aerospace, agricultural, automotive, construction, consumer products,
defense, energy, medical, technology and transportation.

Hardinge applies its engineering design and manufacturing expertise in
high performance machining centers, high-end cylindrical and jig
grinding machines, SUPER-PRECISION® and precision CNC lathes and
technologically advanced workholding accessories. Hardinge has
manufacturing operations in China, France, Germany, India, Switzerland,
Taiwan, the United Kingdom and the United States.

The Company regularly posts information on its website:

Forward Looking Statements

This news release contains forward-looking statements (within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended). Such
statements are based on management's current expectations that involve
risks and uncertainties. Any statements that are not statements of
historical fact or that are about future events may be deemed to be
forward-looking statements. For example, words such as "may," "will,"
"should," "estimates," "predicts," "potential," "continue," "strategy,"
"believes,"" "anticipates," "plans," "expects," "intends," and similar
expressions are intended to identify forward-looking statements. The
Company's actual results or outcomes and the timing of certain events
may differ significantly from those discussed in any forward-looking

Certain factors could cause actual results to differ from those
anticipated in the forward-looking statements in this release, including
the possibility that the proposed transaction with Privet is delayed or
does not close, including due to litigation in respect of the Merger,
the taking of governmental action (including the passage of legislation)
to block the transaction, the failure of Privet to obtain the equity and
debt financing or other funds required to finance the transaction, or
the failure of other closing conditions, disruptions of our business as
a result of the announcement and pursuit of the Merger, the possibility
that the expected financial impacts will not be realized, or will not be
realized within the expected time period, including as a result of
fluctuations in the machine tool business, the cyclical nature of our
markets, changes in general economic conditions in the U.S. or
internationally, the mix of products sold and the profit margins
thereon, the relative success of our entry into new product and
geographic markets, our ability to manage our operating costs and
announced cost reduction initiatives, product liability claims, work
stoppages or other labor issues, our ability to execute on our
previously announced real estate sale and other restructuring
activities, actions taken by customers such as order cancellations or
reduced bookings by customers or distributors, competitors' actions such
as price discounting or new product introductions, governmental
regulations and environmental matters, loss of key management or other
personnel, failure of operating equipment or information technology
infrastructure, changes in the availability and cost of materials and
supplies, the implementation of new technologies and currency
fluctuations, and other risks and factors described in our quarterly
reports on Form 10-Q and annual reports on Form 10-K and in our other
filings with the Securities and Exchange Commission or in materials
incorporated therein by reference.

The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.

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