Editions   North America | Europe | Magazine


Agfa Successfully Completes Autologic Tender Offer

Press release from the issuing company

Mortsel, Belgium - 3 December  2001 - Agfa-Gevaert N.V. (AGFB.BRU) and its wholly-owned U.S. subsidiary, Agfa Corporation of Ridgefield Park, N.J, announced the successful completion by Agfa Corporation’s wholly-owned subsidiary, Autologic Acquisition Corp., of its cash tender offer for all outstanding shares of common stock of Autologic Information International, Inc (NASDAQ: AIII). Based on information provided by The Bank of New York, the depository for the tender offer, as of the expiration of the tender offer at 12:00 midnight, New York City time, on 29 November 2001, the number of shares tendered and not withdrawn (including shares tendered pursuant to guaranteed delivery procedures) totalled 5,660,541, representing approximately 97.8% of the outstanding Autologic shares.  All validly tendered shares have been accepted for payment and will be paid for promptly and, in the case of shares tendered pursuant to guaranteed delivery procedures, promptly after timely delivery of the shares and the required documentation. Agfa Corporation completed its acquisition of Autologic by merging Autologic Acquisition Corp. into Autologic, with Autologic surviving as a wholly-owned subsidiary of Agfa Corporation. In connection with the merger, all remaining Autologic shares which have not been tendered in connection with the tender offer have been cancelled and converted into the right to receive in cash the same $7.127 per share (subject to applicable withholding taxes) as Autologic stockholders who have tendered in the offer will receive. “Agfa’s newspaper business will be integrated with Autologic’s, and the company will continue to serve the newspaper market on a worldwide basis,” said Marc Elsermans, general manager of Agfa Graphic Systems worldwide. “Our goal is to integrate the two businesses with no disruption of services to the Agfa and Autologic customers. We will preserve Autologic’s focus on the newspaper market and enhance it with Agfa’s. Both Autologic and Agfa customers will benefit greatly from the merger. We are committed to this.” Agfa named Jack Knadjian general manager of the newspaper business worldwide and put him in charge of the integration process.