Interpool, Inc.'s Special Committee Retains Legal and Financial Advisors
January 19 2007 - 3:10PM
Business Wire
Interpool, Inc. (NYSE: IPX) today announced that the Special
Committee of its Board of Directors has retained The Blackstone
Group as the Special Committee�s independent financial advisor in
connection with the proposal from Martin Tuchman, its Chief
Executive Officer and Chairman, supported by other significant
Interpool stockholders and an investment fund affiliated with
Fortis Merchant Banking, a division of Fortis (Euronext Amsterdam:
FORA / Brussels: FORB) to acquire all of the outstanding common
stock of the Company (other than a portion of the shares held by
the proposing stockholders) for $24.00 per share in cash. In
addition, the Special Committee retained White & Case LLP to
serve as independent legal counsel to the Special Committee.
Interpool previously announced on January 16, 2007, that the Board
of Directors had established a Special Committee of independent
directors to review the proposal. The Special Committee intends to
review the proposal and alternatives available to the Company to
determine whether or not the proposal is in the best interests of
Interpool and its public stockholders. The Special Committee has
instructed The Blackstone Group and the Company�s financial
advisor, Evercore Partners, to contact potentially interested
parties. Interpool is one of the world�s leading suppliers of
equipment and services to the transportation industry. The company
is the world�s largest lessor of intermodal container chassis and a
world leading lessor of cargo containers used in international
trade. The Special Committee of the Board of Directors cautions the
Company's stockholders and others considering trading in its
securities that the Board of Directors only received the proposal
on January 16, 2007 and that no decisions have been made by the
Special Committee or the Board of Directors with respect to the
Company's response to the proposal. The Special Committee, working
with its advisors, intends to proceed in a timely and orderly
manner to evaluate the proposal. There can be no assurance that any
definitive offer will be made, that any agreement will be executed
or that this or any other transaction will be approved or
consummated. Note: This press release and other press releases and
information can be viewed at Interpool�s website at
www.interpool.com Cautionary Statements This press release contains
certain forward-looking statements regarding future circumstances.
These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements,
including in particular the risks and uncertainties described in
Interpool�s SEC filings. The Company undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof.
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