Ricoh Completes Offer for Shares of Lanier Worldwide
Press release from the issuing company
TOKYO, JAPAN and ATLANTA, GEORGIA, January 25, 2001 - Ricoh Company, Ltd. (TSE: 7752) and Lanier Worldwide, Inc. (NYSE: LR) today announced the successful completion of the cash tender offer for all outstanding shares of common stock of Lanier. The tender offer, which commenced on December 8, 2000, expired at 12:00 midnight, New York City time, on Wednesday, January 24, 2001.
Ricoh has been advised by Mellon Investor Services, L.L.C., the Depositary for the tender offer, that a total of at least 79,790,530 shares of Lanier common stock were validly tendered and not withdrawn prior to the expiration of the offer. The number of shares tendered and not withdrawn represents at least 94.1% of the outstanding shares of Lanier. All such shares have been accepted for purchase in accordance with the terms of the offer and payment for these shares will be made promptly.
Ricoh intends to complete the acquisition of Lanier through a merger in which all shares of common stock not validly tendered into the tender offer will be converted into the right to receive $3.00 per share in cash. Payment of such amount will be made following the merger upon proper presentation of certificates formerly representing shares to Mellon Investor Services, L.L.C., Paying Agent for the merger, together with a properly completed letter of transmittal. Transmittal materials will be sent to stockholders following the merger.
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