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Textile rental firm Angelica sold to Lehman unit
09
Aug '08
Angelica Corporation announced the completion of its acquisition by an affiliate of Lehman Brothers Merchant Banking. Under the terms of the merger agreement, each issued and outstanding share of Angelica common stock was converted into the right to receive $22.00 in cash.

Angelica common stock will cease to trade on the New York Stock Exchange (NYSE) at market close and will no longer be listed on the NYSE.

Stockholders of record will receive a letter of transmittal and instructions on how to surrender their shares of Angelica common stock in exchange for the merger consideration. Stockholders of record should wait to receive the letter of transmittal before surrendering their shares.

Stockholders who hold Angelica's shares in "street name" by a bank, broker or other nominee will not need to take any action to have their shares converted into cash, as this should be done by their bank, broker or other nominee.

Angelica Corporation is a leading provider of textile rental and linen management services to the U.S. healthcare market.

Lehman Brothers Merchant Banking manages funds that seek significant long-term capital appreciation through direct investments in established operating companies in partnership with management.

Angelica Corporation

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