November 24, 1999 17:49
SUNBEAM CORP files prelim info statement for merger or acq.
Dear Stockholder:
On or about , 1999, Coleman plans to merge with a subsidiary
of Sunbeam Corporation. Under the February 1998 agreement relating to the
merger, you will receive $6.44 in cash and 0.5677 of a share of Sunbeam common
stock for each share of Coleman common stock you own when the merger is
completed. In addition, under a court-approved litigation settlement, you will
receive warrants each entitling you to purchase one Sunbeam share at a cash
price of $7 per share until August 24, 2003. You will receive 0.381 of a warrant
for each share of Coleman common stock you own when the merger is completed
(assuming no further increase in the number of outstanding Coleman shares).
The merger was approved by Coleman's board of directors and majority
stockholder, a subsidiary of MacAndrews & Forbes Holdings Inc., on February 27,
1998. AS A RESULT, NO FURTHER ACTION BY YOU OR ANY OTHER COLEMAN STOCKHOLDER IS REQUIRED TO COMPLETE THE MERGER.
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