WALTHAM, Mass., Dec. 2, 2013 /PRNewswire/ -- Mac-Gray Corporation
(NYSE: TUC) ("Mac-Gray") today announced the expiration of the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended ("HSR"), with respect to the previously
announced merger of Mac-Gray and a wholly owned subsidiary of CSC
ServiceWorks, Inc. ("CSC"). The HSR waiting period expired at
11:59 p.m. Eastern Time on
November 27, 2013. Expiration
of the HSR waiting period is a condition to the completion of the
merger. Completion of the merger is subject to additional
conditions, including the adoption of the merger agreement by
Mac-Gray's stockholders and other customary closing conditions.
Mac-Gray currently expects to complete the merger in January
2014.
About Mac-Gray Corporation
Founded in 1927, Mac-Gray
derives its revenue principally through the contracting of
debit-card- and coin-operated laundry facilities in multi-unit
housing facilities such as apartment buildings, college and
university residence halls, condominiums and public housing
complexes. Mac-Gray manages laundry rooms in 44 states and the
District of Columbia. Mac-Gray
also sells and services commercial laundry equipment to retail
laundromats and other customers through its product sales division.
To learn more about Mac-Gray, visit its website at
www.macgray.com.
Additional Information About the Proposed Transaction and
Where to Find It
Mac-Gray plans to file with the U.S. Securities and Exchange
Commission (the "SEC") and furnish to its stockholders a proxy
statement in connection with the proposed transaction with CSC.
Investors and security holders of Mac-Gray are urged to read the
proxy statement and the other relevant materials when they become
available because such materials will contain important information
about Mac-Gray, CSC and the proposed transaction. The proxy
statement and other relevant materials (when they become
available), and any and all other documents filed by Mac-Gray with
the SEC, may be obtained free of charge at the SEC's website at
www.sec.gov. In addition, investors and security holders may obtain
free copies of the documents Mac-Gray files with the SEC by
directing a written request to Mac-Gray Corporation, 404 Wyman
Street, Suite 400, Waltham,
Massachusetts 02451, Attention: Secretary. Copies of
Mac-Gray's filings with the SEC may also be obtained at the
"Investor Relations" section of Mac-Gray's website at
www.macgray.com.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY
STATEMENT AND THE OTHER RELEVANT MATERIALS WHEN THEY BECOME
AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH
RESPECT TO THE PROPOSED TRANSACTION.
Participants in the Solicitation
Mac-Gray and its directors and executive officers may be deemed
to be participants in the solicitation of proxies from the security
holders of Mac-Gray in connection with the proposed transaction.
Information about those directors and executive officers of
Mac-Gray, including their ownership of Mac-Gray securities, is set
forth in the proxy statement for Mac-Gray's 2013 Annual Meeting of
Stockholders, which was filed with the SEC on April 29, 2013, as supplemented by other Mac-Gray
filings with the SEC. Investors and security holders may obtain
additional information regarding the direct and indirect interests
of Mac-Gray and its directors and executive officers in the
proposed transaction by reading the proxy statement and other
public filings referred to above.
Safe Harbor Statement
This news release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the proposed transaction,
including the timing of the transaction, and Mac-Gray's plans with
regard to the proxy statement. Mac-Gray intends such
forward-looking statements to be covered by the Safe Harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and is including this
statement for purposes of complying with these Safe Harbor
provisions. Forward-looking statements, which are based on
certain assumptions and describe future plans, strategies and
expectations of Mac-Gray, may be identified by use of the words
"believe," "expect," "intend," "anticipate," "project," or similar
expressions. Investors should not rely on forward-looking
statements because they are subject to a variety of risks,
uncertainties and other factors that could cause actual results to
differ materially from such forward-looking statements.
Certain factors which could cause actual results to differ
materially from the forward-looking statements include, but are not
limited to, general economic conditions, changes in multi-housing
vacancy rates, Mac-Gray's ability to renew long-term customer
contracts, the proposed transaction, the ability to satisfy the
closing conditions set forth in the merger agreement, including
obtaining stockholder approval and those conditions related to
antitrust clearance, the ability of the parties to consummate the
proposed transaction and those risks set forth in Mac-Gray's Annual
Report on Form 10-K for the year ended December 31, 2012 under "Risk Factors" and in
other reports subsequently filed with the SEC. Except as expressly
required by law, Mac-Gray undertakes no obligation to update any
forward-looking statements, which speak only as of the date of this
news release. All forward-looking statements in this document
are qualified in their entirety by this cautionary statement.
Contacts:
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|
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Michael J.
Shea
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Scott
Solomon
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Chief Financial
Officer
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Vice
President
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Mac-Gray
Corporation
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Sharon
Merrill
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781-487-7610
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617-542-5300
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mshea@macgray.com
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TUC@investorrelations.com
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SOURCE Mac-Gray Corporation