FWIW I think the Sensormatic Tyco merger is relevent now that the association has been made public between Acsys and SRM.
Final Extension of Subsequent Offering Period for Sensormatic Exchange Offer To Expire November 7, 2001
PR Newswire, Thursday, October 18, 2001 at 07:07
/FROM PR NEWSWIRE SAN FRANCISCO 415-543-7800/
[STK] TYC SRM
[IN] CPR TLS ADV
[SU] OFR
TO BUSINESS AND TECHNOLOGY EDITORS:
Final Extension of Subsequent Offering Period for Sensormatic Exchange Offer
To Expire November 7, 2001
PEMBROKE, Bermuda and BOCA RATON, Fla., Oct. 18 /PRNewswire/ --
Tyco International Ltd. (NYSE:TYC; London: TYI; BSX: TYC), a diversified
manufacturing and service company, and Sensormatic Electronics Corporation
(NYSE:SRM), a leading supplier of electronic security solutions to the
retail, commercial and industrial marketplaces, today announced that the
subsequent offering period of the exchange offer of Tyco Acquisition Corp.
XXIV (NV) for the common stock of Sensormatic has been further extended to
5:00 p.m., New York City time, on Wednesday, November 7, 2001. In accordance
with Securities and Exchange Commission rules, this will be the final
extension of the exchange offer. During the subsequent offering period, Tyco
Acquisition will continue to accept for exchange all validly tendered common
shares of Sensormatic. There will be no withdrawal rights during the
subsequent offering period. Tyco Acquisition first accepted shares for
exchange in the offer on October 11, 2001 following expiration of the initial
offering period.
Tyco Acquisition was advised by Mellon Investor Services, the exchange
agent for the offer, that, as of 5:00 p.m., New York City time, on Wednesday,
October 17, 2001, a total of approximately 84 million Sensormatic common
shares were tendered in the offer, including shares delivered through notice
of guaranteed delivery.
The exchange ratio for the offer is 0.5189 of a Tyco common share for each
Sensormatic common share.
As soon as practicable after the expiration of the offer and the
conversion or redemption of all Sensormatic preferred shares, Sensormatic will
be merged with and into Tyco Acquisition with the surviving company becoming a
wholly-owned subsidiary of Tyco. If after the expiration of the offer and the
conversion or redemption of the Sensormatic preferred shares Tyco Acquisition
has acquired at least 90% of the then outstanding Sensormatic common shares,
the merger will be accomplished under short-form merger procedures without a
vote of Sensormatic stockholders. In the merger, stockholders will receive
the same consideration of 0.5189 of a Tyco common share per Sensormatic common
share as received by stockholders in the offer.
About Sensormatic
Sensormatic Electronics Corporation is a leading supplier of electronic
security solutions to the retail, commercial and industrial marketplaces.
Sensormatic is also the leader in integrated source tagging -- a process where
consumer goods manufacturers apply anti-theft tags at the point of packaging
or manufacturing. The company is also the Official Electronic Security
Supplier and a sponsor of the 2002 Winter Olympic Games in Salt Lake City,
Utah and a sponsor of the U.S. Olympic Team through the year 2004.
About Tyco International
Tyco International Ltd. is a diversified manufacturing and service
company. Tyco is the world's largest manufacturer and servicer of electrical
and electronic components; the world's largest designer, manufacturer,
installer and servicer of undersea telecommunications systems; the world's
largest manufacturer, installer and provider of fire protection systems and
electronic security services and the world's largest manufacturer of specialty
valves. Tyco also holds strong leadership positions in medical device
products, financing and leasing capital, plastics and adhesives. Tyco
operates in more than 100 countries and had fiscal 2001 revenue of
$36.3 billion.
Investors are advised to read the registration statement on Form S-4, as
amended, the Schedule TO, as amended, the final prospectus and other documents
relating to the exchange offer that have been or will be filed by Tyco with
the SEC and Sensormatic stockholders are urged to read the related
solicitation/recommendation statement on Schedule 14D-9, as amended, that has
been or will be filed by Sensormatic with the SEC. Free copies of these
documents and other documents filed by Tyco and Sensormatic with the SEC may
be obtained at the SEC's web site at www.sec.gov. These documents contain
important information which should be read carefully before any decision is
made with respect to the exchange offer and the merger. These documents may
also be obtained for free from Tyco or from Sensormatic by directing requests
to Tyco International Ltd., The Zurich Centre, Second Floor, 90 Pitts Bay
Road, Pembroke HM 08, Bermuda, tel: 441-292-8674; or to Sensormatic
Electronics Corporation, 951 Yamato Road, Boca Raton, FL 33431, tel:
561-989-7000.
Documents may also be obtained from MacKenzie Partners, Inc., the
information agent for the offer, 156 Fifth Avenue, New York, New York 10010,
212-929-5500 (call collect) or 800-322-2885 (toll free).
MAKE YOUR OPINION COUNT - Click Here
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SOURCE Tyco International Ltd.
-0- 10/18/2001
/CONTACT: Media, Maryanne Kane, Chief Communications Officer of Tyco
International (US) Inc., 603-778-9700, or 508-747-0800; or Debora S.
Coller, Vice President, Corporate Communications of Sensormatic Electronics
Corp., 561-989-7035; or Investors, R. Jackson Blackstock, Senior Vice
President of Tyco International (US) Inc., 212-424-1344; or Thomas F.
Donahue, Corporate Vice President, Treasurer and Investor Relations of
Sensormatic Electronics Corp., 561-989-7912/
/Company News On-Call: prnewswire.com /
/Web site: tyco.com
Companies or Securities discussed in this article:
Symbol Name
NYSE:SRM Sensormatic Electrnc
NYSE:TYC Tyco Intl Ltd |
