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Special Committee of Schuff International Announces Position on Tender Offer Made by HC2 Holdings, Inc.
Special Committee of Schuff International Announces Position on Tender Offer Made by HC2 Holdings, Inc..
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[{"type":"text","content":"\n \n \n Special Committee of Schuff International Announces Position on Tender Offer Made by HC2 Holdings, Inc.\n \n \nSpecial Committee of Schuff International Announces Position on Tender Offer Made by HC2 Holdings, Inc.\n \n PHOENIX, AZ--(Marketwired - Sep 5, 2014) - Schuff International, Inc. (PINKSHEETS: SHFK) (the \"Company\") today announced that the Special Committee of the Board of Directors of the Company (the \"Committee\") has released its position statement (the \"Statement\") with respect to the unsolicited cash tender offer (the \"Offer\") initiated on August 21, 2014 by HC2 Holdings, Inc. (\"HC2\"), the 70% stockholder of the Company, to purchase all of the issued and outstanding shares of common stock of the Company, par value $0.001 per share (collectively, the \"Shares\"), that HC2 does not currently own at a purchase price of $31.50 per Share, net in cash, without interest (the \"Offer Price\"). \n The Committee has determined to express no opinion to the Company's stockholders as to the Offer and to remain neutral with respect to the Offer. The Committee believes that each stockholder should make an independent determination as to whether or not to tender Shares in the Offer. No stockholder is obligated to tender Shares in the Offer.\n Among other factors, the Committee has determined that a stockholder's decision on whether or not to tender Shares in the Offer is a personal investment decision based upon each individual stockholder's particular circumstances. The Statement explains in additional detail the other factors considered by the Committee in reaching its position. The Committee urges each stockholder to make its, his, or her own decision regarding the Offer based on all of the available information, including the adequacy of the Offer Price in light of the stockholder's own investment objectives, the stockholder's views as to the Company's prospects and outlook, the factors considered by the Committee as described in the Statement, and any other factors that the stockholder deems relevant to its, his, or her investment decision. The Committee also urges each stockholder to consult with financial and tax advisors regarding the Offer and to read the Statement and HC2's Offer to Purchase and other Offer materials in full prior to making any decision regarding the Offer. \n To further each stockholder...