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Merger agreement between Genesco & Finish Line to be terminated
04
Mar '08
Genesco Inc and The Finish Line, Inc announced that the parties have jointly requested a one day delay in the start of the New York solvency trial in anticipation of reaching an agreement for the settlement of all litigation among the parties relating to the proposed merger of Finish Line and Genesco and UBS's financing therefore. The terms of the settlement are expected to be as follows:

• The merger agreement between Genesco and Finish Line will be terminated; the financing commitment from UBS to Finish Line will be terminated; and

• UBS and Finish Line will pay to Genesco an aggregate of $175 million in cash along with a number of Class A shares of Finish Line common stock equal to 12.0% of the total post-issuance Finish Line outstanding shares of common stock. It is contemplated that Genesco and The Finish Line will enter into a mutual standstill agreement. It is also contemplated that The Finish Line will pay its portion of the cash payment from cash reserves.

Consummation of the settlement is subject to negotiation and execution of a definitive settlement agreement and approval of the boards of directors of Genesco and Finish Line.

Genesco Inc


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