Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Jacuzzi Brands Settles Merger Lawsuits
Jan 24, 2007
 Printable format
 Email this Article
 Search

Whirlpool bath maker Jacuzzi Brands, Inc. (West Palm Beach, Florida, U.S.) said it reached an agreement in principle to settle four putative stockholder class action lawsuits related to the Jacuzzi's proposed merger with a subsidiary of Apollo Management L.P. The suits were filed between Oct. 13 and Nov. 8, 2006, naming Jacuzzi Brands, its directors and Apollo as defendants.  The agreement, still subject to court approval, settles all claims raised and, among other changes, changes the merger agreement to reduce a termination fee payable by Jacuzzi under certain circumstances, from U.S. $25 million to $22.5 million.  The agreement also changes from 12 months to 9 months the time period during which Jacuzzi's entry into an alternative acquisition proposal would trigger payment of the termination fee. Jacuzzi also agreed to make certain additional disclosures already reflected in the Definitive Proxy Statement filed with the SEC on January 5, 2007.

The merger agreement calls for Apollo to acquire all Jacuzzi outstanding common stock for $12.50 per share in cash and assume all outstanding debt, valuing the total transaction at approximately $1.25 billion. The transaction is subject to Jacuzzi stockholder approval and other conditions and is expected to close in early to mid-February 2007.
 

Back to Daily News

 

Daily News

...........................................................

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows