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Linens 'n Things declares SEC Filings
28 Dec '05
2 min read
Branded home furnishings merchandiser Linens 'n Things Inc announces that it is filing with the Securities and Exchange Commission a definitive proxy statement in connection with the special shareholders meeting being called to vote on the approval of the proposed acquisition of the Company for $28 per share in cash by means of a merger with a company newly formed and controlled by Apollo Management, L.P.
The date for the shareholders meeting has been set at Monday, January 30, 2006 at 4:00 p.m. (EST), with a record date of December 15, 2005.
The financing necessary to complete the merger is conditioned on, among other things, the Company's comparable net sales for the 2005 fourth quarter being not less than negative 6 percent and the Company's EBITDA (adjusted in certain respects as set forth in the financing commitment) for the fiscal year ending December 31, 2005 being not less than $140 million.
The definitive proxy statement being filed today reflects the Company's belief, based on improved sales trends, that it will satisfy the net comparable sales condition. Today's filing also reflects the Company's belief that it will satisfy the minimum EBITDA condition to the debt financing.
In connection with the proposed Apollo merger transaction, Linens 'n Things has filed relevant materials with the Securities and Exchange Commission, including a proxy statement.
Linens 'n Things and its directors and executive officers may be deemed to be participants in the solicitation of proxies from its shareholders in connection with the proposed transaction.
The date for the shareholders meeting has been set at Monday, January 30, 2006 at 4:00 p.m. (EST), with a record date of December 15, 2005.
The financing necessary to complete the merger is conditioned on, among other things, the Company's comparable net sales for the 2005 fourth quarter being not less than negative 6 percent and the Company's EBITDA (adjusted in certain respects as set forth in the financing commitment) for the fiscal year ending December 31, 2005 being not less than $140 million.
The definitive proxy statement being filed today reflects the Company's belief, based on improved sales trends, that it will satisfy the net comparable sales condition. Today's filing also reflects the Company's belief that it will satisfy the minimum EBITDA condition to the debt financing.
In connection with the proposed Apollo merger transaction, Linens 'n Things has filed relevant materials with the Securities and Exchange Commission, including a proxy statement.
Linens 'n Things and its directors and executive officers may be deemed to be participants in the solicitation of proxies from its shareholders in connection with the proposed transaction.
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