Yankee Candle Stockholders Approve Proposed Merger
23 Janvier 2007 - 5:05PM
Business Wire
The Yankee Candle Company, Inc. (�Yankee� or the �Company�;
NYSE:YCC) announced that at a special meeting of stockholders held
today the Company�s stockholders approved the proposed merger
agreement providing for the merger of Yankee with an affiliate of
Madison Dearborn Partners, LLC, a leading private equity firm.
Based upon preliminary voting results provided by the Inspector of
Election, approximately 99.85% of the shares present and voting at
the meeting voted for the approval of the merger agreement. The
number of shares voting to approve the merger agreement represents
approximately 76.82% of the total number of shares outstanding and
entitled to vote. Under the terms of the merger agreement, Yankee
stockholders will receive $34.75 in cash, without interest, for
each share of Yankee common stock they hold. The transaction is
currently expected to close in February 2007. About Yankee Candle
The Yankee Candle Company, Inc. is the leading designer,
manufacturer, wholesaler and retailer of premium scented candles,
based on sales, in the giftware industry. Yankee has a 37-year
history of offering distinctive products and marketing them as
affordable luxuries and consumable gifts. The Company sells its
products through a North American customer network of approximately
17,400 store locations, a growing base of Company owned and
operated retail stores (420 located in 43 states as of December 30,
2006 including 16 Illumination Stores), direct mail catalogs, its
Internet websites (www.yankeecandle.com, www.aromanaturals.com and
www.illuminations.com ), international distributors and to a
European customer network of approximately 2,500 store locations
(through its distribution center located in Bristol, England).
About Madison Dearborn Partners, LLC Madison Dearborn Partners,
based in Chicago, is one of the largest and most experienced
private equity investment firms in the United States. MDP has
approximately $14 billion of equity capital under management, and
makes new investments through its most recent fund Madison Dearborn
Capital Partners V, L.P., a $6.5 billion fund raised in 2006. MDP
focuses on management buyout transactions and other private equity
investments across a broad spectrum of industries, including basic
industries, communications, consumer, financial services, and
health care. For more information, please visit the MDP website at
www.mdcp.com. This press release contains certain information
constituting �forward-looking statements� for purposes of the safe
harbor provisions of The Private Securities Litigation Reform Act
of 1995. Forward-looking statements include but are not limited to
the statements contained herein with respect to the proposed
transaction, its expected time of consummation, any impact of the
proposed transaction on the Company�s financial and operating
results, and any other statements concerning the Company�s or
management�s plans, objectives, goals, strategies, expectations,
estimates, beliefs or projections, or any other statements
concerning future performance or events. Numerous risks,
uncertainties and other factors may cause actual results to differ
materially from those expressed in any forward-looking statements.
These factors include, but are not limited to, the occurrence of
any event, change or other circumstances that could give rise to
the termination of the merger agreement; the outcome of any legal
proceedings that have been or may be instituted against Yankee and
others relating to the merger agreement; the failure of the merger
to close for any other reason; the failure to obtain the necessary
financing arrangements set forth in commitment letters received in
connection with the merger; risks that the proposed transaction
disrupts current plans and operations and the potential
difficulties in employee retention as a result of the merger; the
effect of the announcement of the merger on our customer
relationships, operating results and business generally; the amount
of the costs, fees, expenses and charges related to the merger and
the actual terms of certain financings that will be obtained for
the merger; the impact of the substantial indebtedness incurred to
finance the consummation of the merger; and other factors described
or contained in the Company�s most recent Quarterly Report on Form
10-Q or Annual Report on Form 10-K on file with the Securities and
Exchange Commission. Any forward-looking statements represent our
views only as of today and should not be relied upon as
representing our views as of any subsequent date. While we may
elect to update certain forward-looking statements at some point in
the future, we specifically disclaim any obligation to do so even
if experience or future events may cause the views contained in any
forward-looking statements to change..
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