GTCR Gridlock Holdings, Inc. Completes Acquisition of Global Traffic Network, Inc.
29 9월 2011 - 6:06AM
Business Wire
Global Traffic Network, Inc. (NASDAQ: GNET) today announced the
completion of the previously announced acquisition by GTCR Gridlock
Holdings, Inc. (the “Purchaser”).
Following the Purchaser’s acceptance for payment of all shares
of Global common stock tendered in the previously announced tender
offer, and the Purchaser’s acquisition of additional shares
pursuant to the exercise of the top-up option granted to GTCR
Gridlock Acquisition Sub, Inc., the Purchaser effected a short-form
merger of GTCR Gridlock Acquisition Sub, Inc. with and into Global
in accordance with the applicable provisions of Nevada law that
authorize the completion of the merger without a vote or meeting of
shareholders of Global. Under the merger agreement, all remaining
publicly held shares were converted into the right to receive the
same $14.00 per share cash price, without interest and less any
applicable withholding tax, that was paid in the tender offer.
Following the completion of the merger, Global is now a
wholly-owned subsidiary of an affiliate of GTCR Gridlock Holdings.
As a result of the merger, the shares of Global’s common stock will
no longer be listed on the NASDAQ Global market or any other market
or securities exchange. Global will file with the Securities and
Exchange Commission a Certification on Form 15 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) to suspend
Global’s reporting obligations under Section 13(a) and 15(d) of the
Exchange Act.
About Global Traffic Network
Global is a leading provider of custom traffic and news reports
to radio and television stations outside the U.S. The Company
operates the largest traffic and news network in Australia,
operates traffic networks in eight Canadian markets and the largest
national radio traffic network across the United Kingdom. In
exchange for providing custom traffic and news reports, television
and radio stations provide Global Traffic Network with commercial
airtime inventory that the Company sells to advertisers. As a
result, radio and television stations incur no out-of-pocket costs
when contracting to use Global Traffic Network's services. For more
information, visit the Company's website at
www.globaltrafficnetwork.com.
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