The tender offer expired at
EMC also announced its intent (through Emerge Merger Corporation) to purchase from Iomega the number of additional shares sufficient to represent ownership of more than 90% of Iomega's outstanding shares, when combined with the shares purchased in the tender offer. Following the exercise, EMC expects to effect, without a vote or meeting of Iomega stockholders, a short-form merger to complete the acquisition of Iomega. As a result, Emerge Merger Corporation will merge with and into Iomega, with Iomega continuing as the surviving corporation and as a direct wholly owned subsidiary of EMC.
Any shares of Iomega common stock not tendered to EMC in EMC's tender
offer (other than shares held by stockholders who properly demand and perfect
appraisal rights under
Following the merger, Iomega common stock will cease to be traded on the NYSE.
About EMC
EMC Corporation (NYSE: EMC) is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at www.EMC.com.
EMC is a registered trademark of EMC Corporation. Iomega is a registered trademark of Iomega Corporation. All other trademarks are the property of their respective owners.
This release contains "forward-looking statements" as defined under the federal securities laws. These include, without limitation, all references to the date the merger will be completed. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) any adverse governmental reactions as we seek approvals for the acquisition of Iomega, or business partner reactions to the acquisition; (ii) material adverse changes in general economic or market conditions; (iii) the potential for Iomega's employees to leave their positions as a result of the acquisition; (iv) changes in the business of EMC or Iomega; or (v) other one-time events and other important factors disclosed previously and from time to time in EMC and Iomega's filings with the SEC. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.
SOURCE EMC Corporation