PRG
this is the news causing it to fall Monday from 3/4
Monday October 26, 11:03 am Eastern Time
Company Press Release
SOURCE: Physicians Resource Group, Inc.
Physicians Resource Group Terminates Letter of
Intent on Proposed Tender Offer
DALLAS, Oct. 26 /PRNewswire/ -- Physicians Resource Group, Inc. (NYSE: PRG - news) today announced that the
previously announced tender offer by David Meyer, M.D. has been terminated. Under the terms of the Letter of Intent
executed by the Company and David Meyer, M.D. on July 25, 1998, a Definitive Agreement was to be delivered to the
Company on September 21, 1998. After extending the deadline to October 26, 1998, the Company has determined that the
likelihood of the proposal, in its current form, moving forward is remote. The Company thanks Dr. Meyer for his interest and
his efforts in this regard, but must proceed and take action to move the Company forward.
Certain statements in this news release consist of forward-looking statements made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. As such, they involve risk and uncertainties as detailed from time to time
in the reports filed by the Company with the Securities and Exchange Commission, including the Company's Annual Report on
Form 10-K, as amended, for the year ended December 31, 1997. |
