Business
TAMCO Holdings LLC commences tender offer
TAMCO Holdings LLC commences tender offer.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 8962N Titanium Asset Management Corp 12 September 2013 \n \n\nTitanium Asset Management Corp. \n \nTAMCO Holdings, LLC Affiliate Commences Tender Offer for All Outstanding Shares of Titanium Asset Management Corp. at $1.08 per Share\n \n \nMilwaukee, WI - September 12, 2013 - Titanium Asset Management Corp. (AIM - TAM) (the \"Company\") and TAMCO Holdings, LLC (\"Parent\") announce that TAMCO Acquisition, LLC, a wholly owned subsidiary of Parent (\"Purchaser\"), has commenced its previously announced tender offer (the \"Offer\") for all the outstanding shares of common stock of the Company at a price of $1.08 per share, net to the seller in cash without interest. The Offer is being made pursuant to the merger agreement (the \"Merger Agreement\") that the Company, Parent and Purchaser entered into and announced on September 9, 2013. \nAfter due consideration, a special committee comprised solely of independent and disinterested directors of the Company, and the board of directors of the Company in accordance with the recommendation of the special committee, approved the Merger Agreement, the Offer, the merger of the Company with and into Purchaser following the Offer (the \"Merger\"), and the other transactions contemplated by the Merger Agreement and determined that the terms of the Merger Agreement, the Offer, the Merger and the transactions contemplated by the Merger Agreement are advisable, fair to and in the best interests of the unaffiliated stockholders of the Company. After consultation with the Company's nominated adviser, the directors of the Company (other than any director who is involved in the transaction as a related party) consider the terms of the transaction contemplated by the Merger Agreement to be fair and reasonable in so far as its stockholders are concerned. In accordance with the recommendation of the special committee, the board of directors of the Company recommends that stockholders of the Company accept the Offer and tender their shares in the Offer, and if required by applicable law, adopt the Merger Agreement. \nThe Offer will expire at midnight, New York City time, on October 9, 2013, unless extended or earlier terminated in accordance with the Merger Agreement. Tenders of shares must be made on or prior to the expiration of the Offer and may be wit...