Boston Acoustics Inc. Shareholders Approve Merger Agreement
August 25 2005 - 11:22AM
Business Wire
Boston Acoustics, Inc. (NASDAQ: BOSA) announced today that the
shareholders of the Company have approved the merger agreement
providing for the acquisition of the Company by D&M Holdings
U.S. Inc. at a special meeting of the shareholders held today in
Peabody, MA. Approximately 72.5% of the total number of shares
outstanding and entitled to vote approved the merger agreement. The
proposed merger was announced on June 8, 2005 and is expected to
close by the end of August 2005, pending the satisfaction or waiver
of all the closing conditions set forth in the merger agreement.
Under the terms of the merger agreement, Company shareholders will
receive $17.50 per share in cash, without interest. Founded in
1979, Boston Acoustics, Inc. (NASDAQ: BOSA) designs, manufactures
and markets high performance audio systems for use in home music
and audio-video systems, aftermarket and OEM automotive systems and
custom built-in audio systems. Highly regarded for creating The
Boston Sound(TM), the company is renowned for delivering superior,
competitively priced products emphasizing performance, consistency
and value. For further information, visit the company's Internet
site at www.bostonacoustics.com. FORWARD LOOKING STATEMENTS This
press release contains "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbors created
thereby. All statements herein that are not historical facts,
including statements about our beliefs, plans, objectives and
expectations, are forward-looking statements. We generally identify
these statements by words or phrases such as "anticipate,"
"estimate," "plan," "expect," "believe," "intend," "will," "may,"
and similar words or phrases. We believe that all forward-looking
statements are based upon reasonable assumptions when made;
however, we caution that it is impossible to predict actual results
or outcomes or the effects of risks, uncertainties or other factors
on anticipated results or outcomes and that, accordingly, you
should not place undue reliance on these statements.
Forward-looking statements speak only as of the date when made, and
we undertake no obligation to update these statements in light of
subsequent events or developments. Actual results and outcomes may
differ materially from anticipated results or outcomes discussed in
forward-looking statements.
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