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Neiman Marcus stockholder approves merger agreement
17 Aug '05
2 min read
Nation's largest department store's merchandiser The Neiman Marcus Group Inc announced at a special meeting of the stockholders held in Newton, Massachusetts, the stockholders of the Company voted to adopt the merger agreement providing for the acquisition of the Company by an entity currently indirectly owned by private equity funds sponsored by TPG Advisors III Inc, TPG Advisors IV Inc, Warburg Pincus & Co, Warburg Pincus LLC and Warburg Pincus Partners LLC.
Approximately 99.7 percent of stockholders present and voting voted for adoption of the merger agreement. The number of shares voting to adopt the merger agreement represents approximately 74.3 percent of the total number of shares outstanding and entitled to vote.
The proposed merger was announced on May 2, 2005 and is expected to be completed during the last calendar quarter of 2005, subject to the satisfaction or waiver of all the closing conditions set forth in the merger agreement. Under the terms of the merger agreement, Company stockholders will receive $100.00 per share in cash without interest.
Dallas based The Neiman Marcus Group Inc operates specialty retail stores segment and the direct marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.
Approximately 99.7 percent of stockholders present and voting voted for adoption of the merger agreement. The number of shares voting to adopt the merger agreement represents approximately 74.3 percent of the total number of shares outstanding and entitled to vote.
The proposed merger was announced on May 2, 2005 and is expected to be completed during the last calendar quarter of 2005, subject to the satisfaction or waiver of all the closing conditions set forth in the merger agreement. Under the terms of the merger agreement, Company stockholders will receive $100.00 per share in cash without interest.
Dallas based The Neiman Marcus Group Inc operates specialty retail stores segment and the direct marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.
The Neiman Marcus Group Inc
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