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NEW YORK, April 8, 2021 (GLOBE NEWSWIRE) – Magic MergeCo, Inc. (the “Purchaser”), an entity managed by funds (the “Apollo Funds”) managed by corporations affiliated with Apollo World Administration, Inc. ( NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), one of many world’s main different funding managers, and The Michaels Corporations, Inc. (“Michaels”) (Nasdaq: MIK) right this moment introduced a settlement to increase the provide interval of the previous initiated a money tender provide by the Purchaser to buy the entire issued and excellent shares of Michaels widespread inventory till 5:00 p.m. CET New York, April 14, 2021, besides additional extension. The take-over bid was beforehand scheduled to run out one minute after 11:59 p.m. New York time on April 12, 2021.
Computershare Belief Firm, NA, the custodian of the takeover bid, knowledgeable Apollo that at 5:00 p.m. New York time on April 8, 2021, 57,954,675 Michaels widespread inventory, representing roughly 40.49 % of the issued and excellent Michaels shares have been tendered pursuant to the tender provide. Shareholders who’ve already tendered their Michaels widespread inventory should not have to give up their shares or take every other motion because of the prolonged expiration of the tender provide.
Purchaser expects the takeover bid to be accomplished promptly after the expiration of the provide interval (as hereby prolonged), topic to satisfaction or waiver. the circumstances remaining for the completion of the general public tender provide set out within the merger settlement.
Georgeson LLC is the knowledge agent for the Provide to Buy and any questions or inquiries concerning the Provide to Buy and associated paperwork regarding the Takeover Provide could also be directed to them by phone, toll-free. , at (888) 663-7851.
This press launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase any securities and doesn’t represent a proposal, solicitation or sale in any jurisdiction during which such provide, solicitation or sale could be unlawful.
Apollo is a number one world funding supervisor with workplaces in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo, between different. Apollo had roughly $ 455 billion in property underneath administration as of December 31, 2020 in credit score, non-public fairness and actual asset funds. For extra data on Apollo, please go to www.apollo.com.
Any forward-looking statements, together with, however not restricted to, statements concerning the proposed transaction between Apollo and Michaels, the power of the events to finish the transaction and the anticipated timing for completion of the transaction, strategic advantages and different advantages potentials of the transaction, and different statements concerning Apollo’s future expectations, beliefs, goals, plans or prospects are topic to dangers and uncertainties corresponding to these described underneath “Danger Elements” in Michaels’ periodic studies. filed with the SEC. These statements communicate solely as of the date of this press launch and are based mostly on the present plans and expectations of Apollo and Michaels and contain dangers and uncertainties that might trigger precise future occasions or outcomes to vary from these described. or implied by such a prospect. forward-looking statements, together with dangers and uncertainties regarding: uncertainty as to the variety of Michaels shareholders who will tender their shares underneath the tender provide; the chance that one or the entire varied circumstances to the completion of the takeover bid is not going to be glad or be exercised in a well timed method, if in any respect; the prevalence of any occasion, change or different circumstance that will end result within the termination of the merger settlement; adjustments in monetary markets; adjustments in financial, political or regulatory circumstances; adjustments in information and different circumstances and uncertainties regarding the proposed transaction; and different components set forth sometimes in Michaels’ filings with the SEC, together with its annual studies on Kind 10-Ok and quarterly studies on Kind 10-Q, in addition to the general public providing assertion of buy, the solicitation / advice assertion and different tender provide paperwork. which will likely be filed by Apollo and Michaels, if relevant. Apollo and Michaels warning traders to not place important reliance on any forward-looking statements contained on this press launch. Besides as required by relevant regulation or regulation, Apollo assumes no obligation to replace or revise these forward-looking statements to mirror future occasions or circumstances.
Essential further data
This press launch doesn’t represent a proposal to purchase or the solicitation of a proposal to promote Michaels widespread inventory or every other safety. This communication is for informational functions solely. The tender provide transaction which started on March 16, 2021 by the associates of Apollo is being carried out in accordance with a young provide assertion set out in Annex TO (together with the tender provide (Buy, associated Letter of Transmittal and different paperwork regarding the Provide) filed by such Apollo Associates. with the US Securities and Alternate Commissions (“SEC”). Moreover, Michaels has filed a associated solicitation / advice assertion on Schedule 14D-9 with the SEC. Provide to buy Michaels widespread inventory is made solely in accordance with the provide to buy, letter of transmittal and associated providing paperwork filed as a part of the general public providing assertion buy on Annex TO, in every case as amended sometimes. time. THE MATERIALS OF THE TENDER OFFER (INCLUDING THE OFFER TO PURCHASE, RELATED LETTER OF TRANSMITTAL AND OTHER ITEMS) AND STATEMENT OF SOLICITATION / RECOMMENDATION IN ANNEX 14D-9 CONTAIN INFORMATION IMPORTANT. BEFORE MAKING ANY DECISIONS REGARDING THE OFFERING OFFERING OFFER, MICHAELS SHAREHOLDERS ARE STRONGLY ADVISED TO READ THE OFFERING STATEMENT OF OFFERING OFFERING OFFERING OFFERING TENDER CAREFULLY (INCLUDING THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND OTHER RELATED OFFERING ELEMENTS) AND RELATED RECOMMENDATION ANNEX 14D-9, AS FILED AND SUBJECT TO CHANGE FROM TIME TO TIME. Michaels shareholders could get hold of the tender provide assertion on Schedule TO (together with the provide to buy, associated letter of transmittal and different provide paperwork) and the assertion of tender freed from cost. associated solicitation / advice set out in Schedule 14D-9 on the SEC’s web site at www. sec.gov. As well as, the tender provide assertion on Annex TO (together with the provide to buy, letter of transmittal and different paperwork regarding the provide) and the solicitation / advice assertion associated on Schedule 14D-9 may be obtained freed from cost from Georgeson LLC, 1290 Avenue of the Americas, ninth Ground, New York, New York 10104, phone quantity (888) 663-7851, the knowledge officer for takeover bid.
Head of Investor Relations
Apollo World Administration, Inc.
212 822 0528
World Head of Company Communications
Apollo World Administration, Inc.
212 822 0491