![]() The last date to submit the elections is December 1, 2015. Martha Stewart Living Omnimedia scheduled a special stockholder meeting for December 2, 2015. During the period beginning on Jand continuing until JNo Shop Period will be there. As of November 2, 2015, registration statement on Form S-4 was declared effective by the Securities and Exchange Commission. As of December 2, 2015, the shareholders of Martha Stewart Living approved the deal. As of December 2, 2015, the deal has been approved by the shareholders of Martha Stewart. ![]() The transaction has been approved by the Boards of Directors of Martha and unanimously approved by Board of Sequential. The independent committee of the Board of Directors of Martha Stewart Living Omnimedia recommended the Board of Martha Stewart Living to approve the transaction. The transaction is subject to customary closing conditions and approval by the holders of a majority of the shareholders of Martha Stewart, the expiration or termination of any waiting period applicable to the consummation of the Mergers under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, obtaining Sequential Brands' stockholder approval, which approval was obtained by written consent on Jfollowing execution and delivery of the merger agreement, the receipt of certain tax opinions, the effectiveness of the Form S-4 and obtaining authorization for shares issued to be listed on Nasdaq. The transaction includes a 30 day go shop provision for Martha Stewart Living Omnimedia. If the termination fee becomes payable under any other circumstances, the amount of the termination fee is $12.8 million.Īn independent committee of the Board of Directors of Martha Stewart Living Omnimedia negotiated the transaction on Martha Stewart's behalf and recommended that Martha Stewart's Board of Directors approve the transaction. ![]() If the termination fee becomes payable prior to August 6, 2015, the amount of the termination fee is $7.5 million. Additionally, upon termination MSLO will pay Sequential a termination fee. In the event of termination, MSLO will reimburse Sequential for all expenses in an amount not to exceed $2.5 million. Sequential has obtained committed financing from GSO Capital Partners LP pursuant to which GSO Capital has committed two senior secured term loans facilities up to $300 million plus additional $60 million. Martha Stewart will continue to be an integral part of the brand and will be nominated to serve on its Board of Directors as of the closing. The consideration will be satisfied 50% in cash and 50% in stock depending upon election by shareholders of Martha based on proration in the event of oversubscription. ![]() MSLO RSU Award will pe paid cash consideration of $6.15 per share. MSLO Stock Options and MSLO Performance Stock Options will be paid a difference of the weighted average exercise price and the offer per share. Martha Stewart Living will be converted into the right to receive either $6.15 in cash or a number of fully-paid and no assessable shares of Sequential's common stock, together with cash. Penney Corporation, Inc., Plymouth Lane Capital Management, LLC, Martha Stewart, Founder and Chief Creative Officer of MSLO and others for approximately $360 million on June 22, 2015. (NasdaqCM:SQBG) agreed to acquire Martha Stewart Living Omnimedia Inc.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |