CARROLLTON, Ga. and
WAUKEGAN, Ill., Jan. 15, 2014 /PRNewswire/ -- Southwire
Company ("Southwire") and Coleman
Cable, Inc. (NASDAQ: CCIX) ("Coleman") today announced the
expiration of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (the "HSR Act") relating to the
previously announced tender offer for all outstanding shares of
common stock of Coleman by Southwire and Cubs Acquisition
Corporation, a wholly-owned subsidiary of Southwire ("Purchaser"),
at a price of $26.25 per share in
cash, net to the seller in cash, without interest, less any
applicable withholding taxes. Accordingly, the tender offer
condition relating to the expiration of the applicable waiting
period under the HSR Act has been satisfied.
The tender offer and withdrawal rights are scheduled to expire
at 12:00 midnight, New York City
time, on February 3, 2014 (one minute
after 11:59 P.M., New York City Time,
on February 3, 2014), unless extended
or earlier terminated in accordance with the terms of the merger
agreement, dated as of December 20,
2013, among Southwire, Coleman and Purchaser. The completion
of the tender offer remains subject to the satisfaction or waiver
of other customary conditions as described in the tender offer
statement on Schedule TO filed with the Securities and Exchange
Commission (the "SEC") on January 6,
2014.
About Southwire Company
A leader in technology and innovation, Southwire Company is one
of North America's largest wire
and cable producers. Southwire and its subsidiaries manufacture
building wire and cable, metal-clad (MC) cable, cord products
(including Tappan™ sound, security, and communication cables
through Tappan Wire & Cable Inc.), utility cable products,
industrial power cable, OEM wire products, SCR® copper and aluminum
rod, and continuous casting technology. Southwire also supplies
MAXIS® Contractor Equipment and Southwire™ Electrician's Tools to
the commercial, industrial, retail, electrical wholesale outlet and
utility construction markets. To learn more about Southwire's
products, community involvement, and its vision for a sustainable
Southwire, please visit Southwire on the web at
www.southwire.com.
About Coleman Cable,
Inc.
Coleman is a leading manufacturer and innovator of electrical
and electronic wire and cable products for residential and
commercial construction, industrial, OEM, and consumer
applications, with operations in the
United States, Honduras,
and Canada. Coleman's broad product offering enables it to
provide its customers a single source for many of their wire and
cable requirements. It manufactures the majority of its
products in nine domestic production facilities and sells products
to more than 8,000 active customers in a wide variety of end
markets. It operates three segments: Distribution, OEM,
and Engineered Solutions. For more information, visit
www.colemancable.com.
CCIX-G
Forward Looking Statements
This press release includes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, that are subject to risks, uncertainties and other factors.
All statements other than statements of historical fact are
statements that could be deemed forward-looking statements,
including all statements regarding the intent, belief or current
expectation of Southwire and Coleman and members of their
respective senior management teams. Forward-looking statements
include, without limitation, statements regarding Southwire's
pending tender offer for shares of common stock of Coleman and the
proposed subsequent merger of Purchaser with and into Coleman,
prospective performance, future plans, events, expectations,
performance, objectives and opportunities and the outlook for the
companies' businesses, including, without limitation, the ability
to achieve any particular result with respect to any businesses or
products; filings and approvals relating to the transaction; the
expected timing of the completion of the transaction; the ability
to complete the transaction considering the various closing
conditions; the availability of financing to consummate the
transaction; and any assumptions underlying any of the foregoing.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties and are cautioned not to place undue reliance on
these forward-looking statements. Actual results may differ
materially from those currently anticipated due to a number of
risks and uncertainties. Risks and uncertainties that could cause
the actual results to differ from expectations contemplated by
forward-looking statements include: uncertainties as to the timing
of the completion of the tender offer and merger; uncertainties as
to how many of Coleman's stockholders will tender their stock in
the offer; the possibility that various closing conditions for the
transaction may not be satisfied or waived; the effects of the
transaction on relationships with employees, customers, other
business partners or governmental entities; other business effects,
including the effects of industry, economic or political conditions
outside of Southwire's and Coleman's control; transaction costs;
actual or contingent liabilities; and other risks and uncertainties
detailed from time to time in documents filed with the SEC by
Coleman, including current reports on Form 8-K, quarterly reports
on Form 10-Q and annual reports on Form 10-K, as well as the
Schedule 14D-9 filed by Coleman and the tender offer documents
filed by Southwire. Southwire and Coleman assume no
obligation to update any forward-looking statements as a result of
new information, future developments or otherwise, except as
expressly required by law. All of the materials related to
the offer (and all other offer documents filed with the SEC) are
available at no charge from the SEC through its website at
www.sec.gov. Investors and security holders may also obtain
free copies of the documents filed with the SEC by Coleman at
www.colemancable.com.
Additional Information and Where to Find it
This press release is neither an offer to purchase nor a
solicitation of an offer to sell shares of Coleman. The
solicitation and the offer to purchase shares of Coleman's common
stock described in this press release will be made only pursuant to
the offer to purchase and related materials that Southwire has
filed on Schedule TO with the SEC. In addition, Coleman has filed a
solicitation/recommendation statement on Schedule 14D-9 with the
SEC, and Southwire and Coleman may file other relevant materials in
connection with the proposed acquisition of Coleman by
Southwire. Coleman'S stockholders and other investors are
urged to read the tender offer materials (including the Offer to
Purchase, related Letter of Transmittal and other offer documents)
and the Solicitation/Recommendation Statement, as they may be
amended OR SUPPLEMENTED from time to time, because they contain
important information that should be read carefully before any
decision is made with respect to the tender offer.
Investors and stockholders may obtain free copies of the
Schedule TO and Schedule 14D-9, as each may be amended or
supplemented from time to time, and other documents filed with the
SEC by the parties (when available), at the SEC's web site at
www.sec.gov. Investors and security holders may also obtain
free copies of the documents filed with the SEC by Coleman at
www.colemancable.com.
SOURCE Southwire Company