|
From the Opalesque team: GLG Partners, Inc. on August 27 invited its stockholders to attend a special meeting in New York some time in September, with regards to the acquisition proposed on May 17 by Man Group plc.
The proposed acquisition is to be made through two concurrent transactions, according to a 330-page written public communication posted on GLG's website; a cash merger and a share exchange. The latter will be done among Man Group and GLG's co-founders, namely Noam Gottesman, Pierre Lagrange and Emmanuel Roman, together with their related trusts and affiliated entities, two limited partnerships that held shares for the benefit of key personnel who are participants in GLG's equity participation plans, and the permitted transferees of such limited partnerships.
Voters will be asked to vote upon the proposal to adopt the merger agreement. If the merger is completed, GLG’s stockholders will have the right to receive, for each share of the common stock they hold at the time of the merger, $4.50 in cash.
Upon completion of the proposed merger, GLG will cease to be a publicly traded company and Man will own 100% of the firm’s outstanding securities.
GLG’s Board of Directors, which includes interested and disinterested parties, “determined that the merger is advisable” and urged stockholders to vote “FOR.”
Noam Gottesman, Pierre Lagrange and Emmanuel Roman, will enter into employment or service agreements with Man entities providing for, a...................... To view our full article Click here
|
RSS
