Of the potential acquirers contacted by FT Partners between April and
mid-June
2018, 20 executed confidentiality agreements with the Company and 14 held a meeting with Company management or made arrangements for a meeting with Company management.
On April 20, 2018, the Company entered into a confidentiality agreement with a potential strategic buyer (
Party B
)
and, on the same date, senior executives from the Company and certain executives of Party B participated in a call to discuss the Company. Party B was provided access to the evaluation materials regarding the Company.
Between May 1 and May 10, 2018, the Company entered into a confidentiality agreement with each of five additional potential
strategic buyers (
Party C
,
Party D
,
Party E
,
Party F
and
Party G
, respectively). Evaluation material were made available to each of Party C, Party D, Party E,
Party F and Party G.
On May 10, 2018, representatives from the Company and certain executives of Party C participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
On May 16, 2018,
representatives from the Company and certain executives from Party D participated in an
in-person
to discuss the Company and a Potential Transaction.
Between May 17 and June 1, 2018, the Company entered into a confidentiality agreement with each of three additional potential
strategic buyers and one financial sponsor (
Party H
,
Party I
, and
Party J
, and
Party
W
respectively). Between June 1, 2018 and June 18, 2018, the Company
entered into a confidentiality agreement with each of seven additional potential buyers (
Party K
,
Party L
,
Party M
,
Party N
,
Party O
,
Party
P
and
Party Q
). Evaluation materials regarding the Company were made available to each of Parties H through Q.
On June 1, 2018, representatives from the Company and certain executives from Party E participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
On June 4, 2018,
representatives from the Company and certain executives from Party F participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
On June 5, 2018, representatives from the Company and certain executives from Party G participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
On June 6, 2018,
representatives from the Company and certain executives from Party H participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
On June 12, 2018, representatives from the Company and certain executives from Party I participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
Also on June 12, 2018,
representatives from the Company and certain executives from Party K participated in an
in-person
meeting to discuss the Company and a Potential Transaction.
Between June 15 and June 27, 2018, the Company and held separate telephonic meetings with Party L, Party M, Party N, Party O, Party
P and Party Q about the Company and a Potential Transaction.
Between the end of May and early June 2018, FT Partners communicated by
email to all of the approximately 25 remaining potential buyers to submit written,
all-cash,
preliminary proposals for the acquisition of the Company by the end of June 2018, with a target of June 22,
2018.
No written offers for the sale of the entire business were received on the preliminary bid deadline of June 22, 2018.
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