Marlin Equity Partners Commences Cash Tender Offer for All Outstanding Shares of Tellabs, Inc.
PR Newswire Marlin Equity Partners
November 1, 2013 7:50 AM
LOS ANGELES, Nov. 1, 2013 /PRNewswire/ -- Marlin Equity Partners ("Marlin"), a global investment firm, today announced that Blackhawk Merger Sub Inc. ("Purchaser") has commenced the previously-announced cash tender offer for all of the outstanding shares of Tellabs, Inc. (TLAB) ("Tellabs") at a price of $2.45 per share, net to seller in cash without interest. Purchaser and its parent company, Blackhawk Holding Vehicle LLC ("Parent"), are affiliated with Marlin Equity III, L.P., Marlin Equity IV, L.P. and Marlin Management Company, LLC (d/b/a Marlin Equity Partners).
On October 21, 2013, Marlin announced that Parent, Purchaser and Tellabs had entered into a definitive merger agreement pursuant to which the tender offer would be made.
Pursuant to the merger agreement, after completion of the tender offer and the satisfaction or waiver of certain conditions, Purchaser will merge with and into Tellabs, and all of the then outstanding shares of Tellabs' common stock (other than shares held by Tellabs, Parent, their respective wholly owned subsidiaries, or Tellabs' stockholders who validly exercise appraisal rights under Delaware law with respect to such shares) will be automatically converted into the right to receive cash equal to the $2.45 offer price per share, without interest.After careful consideration, the board of directors of Tellabs unanimously approved the merger agreement and the transactions contemplated thereby. Accordingly, the board of directors has recommended that Tellabs stockholders tender their shares in the tender offer.
Purchaser and Parent filed with the Securities and Exchange Commission (the "SEC") today a tender offer statement on Schedule TO, including an offer to purchase and related letter of transmittal, setting forth in detail the terms and conditions of the tender offer. Additionally, Tellabs has filed with the SEC a solicitation/recommendation statement on Schedule 14D-9 setting forth in detail, among other things, the recommendation of Tellabs' board of directors that Tellabs' stockholders tender their shares in the tender offer.
The completion of the tender offer is conditioned upon, among other things, satisfaction of a minimum tender condition and other closing conditions. The transaction is not subject to a financing condition.
The tender offer commenced today will expire at 11:59 p.m., New York City time, on December 2, 2013 unless the offer is extended in accordance with its terms. Upon the successful completion of the transaction, Tellabs will become a privately held company.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $2.6 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 70 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit
http://www.marlinequity.com.
Enviado: 22/11/2013 15:28
