Tuesday June 22, 1:02 pm Eastern Time
Company Press Release
SOURCE: TAVA Technologies, Inc.
TAVA/Real Software Granted Early Termination of Antitrust Waiting Period
ENGLEWOOD, Colo., June 22 /PRNewswire/ -- TAVA Technologies, Inc. (Nasdaq: TAVA - news) announced today that the Federal Trade Commission and the Antitrust Division of the Department of Justice have granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for filings made by TAVA and Real Software Group NV (''Real Software'') on June 11, 1999.
The filings relate to a proposed transaction pursuant to which TAVA will be acquired by a wholly-owned subsidiary of Real Software, a Belgian corporation, in a cash merger transaction for $8.00 per share (the ''Merger''). Upon completion of the Merger, TAVA shares will no longer be publicly traded or listed on NASDAQ.
TAVA has scheduled a Special Meeting of Shareholders on July 19, 1999, to consider and vote upon a proposal to approve the Merger. Approval of the Merger requires the affirmative vote of a majority of outstanding shares.
Additional information concerning the proposed merger, including the Agreement and Plan of Reorganization, is available in TAVA's Definitive Proxy Materials, which were filed with the SEC on June 17, 1999. As noted in that document, to which reference should be made, consummation of the Merger is subject to certain conditions.
SOURCE: TAVA Technologies, Inc.
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