Geac Computer Corporation Announces Early-Termination of Hart-Scott-Rodino Act Waiting Period in Connection with Golden Gate Cap
January 04 2006 - 1:03PM
PR Newswire (US)
MARKHAM, ON, and WALTHAM, MA, Jan. 4 /PRNewswire-FirstCall/ -- Geac
Computer Corporation Limited (TSX: GAC and NASDAQ: GEAC) today
announced the early termination of the applicable waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in
connection with its proposed sale to Golden Gate Capital under the
arrangement agreement entered into November 6, 2005 between Geac
and certain affiliated entities of Golden Gate. The Hart-
Scott-Rodino Antitrust Improvements Act of 1976 prohibits the
closing of certain transactions prior to the expiration or
termination of any applicable waiting periods. The arrangement has
also been approved by the German antitrust and competition law
authorities. The completion of the arrangement remains subject to a
number of conditions, including, without limitation, shareholder
approval, court approval and approval under the Investment Canada
Act. About Geac Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise
software company that addresses the needs of the Chief Financial
Officer. Geac's best-in-class technology products and services help
organizations do more with less in an increasingly competitive
environment, amidst growing regulatory pressure, and in response to
other business issues confronting the CFO. Further information is
available at http://www.geac.com/ or through e-mail at . About
Golden Gate Capital Golden Gate Capital
(http://www.goldengatecap.com/) is a San Francisco- based private
equity investment firm with approximately $2.5 billion of capital
under management. Golden Gate Capital is dedicated to partnering
with world-class management teams to invest in change-intensive,
growth businesses. They target investments in situations where
there is a demonstrable opportunity to significantly enhance a
company's value. The principals of Golden Gate Capital have a long
and successful history of investing with management partners across
a wide rage of industries and transaction types, including
leveraged buyouts, recapitalizations, corporate divestitures and
spin-offs, build-ups and venture stage investing. Important
Information Regarding the Transaction The Shareholders of Geac are
urged to read the proxy circular regarding the proposed transaction
and any other relevant documents filed on SEDAR and with the SEC
when they become available, as well as any amendments or
supplements to those documents, because they will contain important
information. Interested parties will be able to obtain a free copy
of the proxy circular, as well as other filings containing
information about Geac, at http://www.sedar.com/ and at
http://www.sec.gov/ . This press release may contain
forward-looking statements of Geac's intentions, beliefs,
expectations and predictions for the future. These forward-looking
statements often include use of the future tense with words such as
"will," "may," "intends," "anticipates," "expects" and similar
conditional or forward-looking words and phrases. These
forward-looking statements are neither promises nor guarantees.
They are only predictions that are subject to risks and
uncertainties, and they may differ materially from actual future
events or results. Geac undertakes no obligation to update or
revise the information contained herein. Risks and uncertainties
include the satisfaction of the conditions to closing, including
receipt of shareholder and regulatory approval. Other potential
risks and uncertainties that relate to Geac's business and
operations are summarized in more detail from time to time in our
filings with the United States Securities and Exchange Commission
and with the Canadian Securities Administrators. Please refer to
Geac's most recent quarterly reports available through the website
maintained by the SEC at http://www.sec.gov/ and through the
website maintained by the Canadian Securities Administrators and
the Canadian Depository for Securities Limited at
http://www.sedar.com/ for more information on risk factors that
could cause actual results to differ. Geac is a registered
trademark of Geac Computer Corporation Limited. All other marks are
trademarks of their respective owners. DATASOURCE: Geac Computer
Corporation Limited CONTACT: please contact Alys Scott, Vice
President, Corporate Communications, Geac, (781) 672-5980,
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