ACS Completes Cash Tender Offer for Shares of Superior Consultant Holdings Corporation
January 25 2005 - 9:14AM
PR Newswire (US)
ACS Completes Cash Tender Offer for Shares of Superior Consultant
Holdings Corporation DALLAS, Jan. 25 /PRNewswire-FirstCall/ --
Affiliated Computer Services, Inc., (NYSE:ACS), a premier provider
of business process and information technology outsourcing
solutions, announced today the successful completion of the cash
tender offer by its wholly owned subsidiary, ACS Merger Corp., for
all of the shares of common stock of Superior Consultant Holdings
Corporation (NASDAQ:SUPC), a leading provider of information
technology (IT) consulting services and solutions to the healthcare
industry, at a price of $8.50 per share. The offer expired, as
scheduled, at 12:00 midnight (New York City time) on Monday,
January 24, 2005. ACS has been advised by Mellon Investor Services
LLC, the depositary for the tender offer, that as of the expiration
of the offer, 10,462,622 shares representing approximately 99% of
Superior's issued and outstanding common stock had been tendered
and not withdrawn (including approximately 33,697 shares tendered
by guaranteed delivery). All validly tendered shares have been
accepted for purchase in accordance with the terms of the tender
offer. ACS intends to complete the acquisition of Superior through
a short form merger of ACS Merger Corp. with and into Superior on
or about January 28, 2005. As a result of the merger, all
outstanding shares of Superior common stock not purchased by ACS
Merger Corp. in the tender offer will be converted into the right
to receive $8.50 per share, without interest. Established in 1984,
Superior provides IT consulting services and solutions to the
healthcare industry, including IT and business process outsourcing
services, facilities and applications management, network
monitoring, and helpdesk services. The company's clients include
hospitals and health systems, integrated delivery networks, and
other providers of care, technology firms, health plans, and state
and federal government agencies. Superior employs more than 700
experienced healthcare professionals and is headquartered in
Dearborn, Michigan. The company also has offices in California,
Connecticut, Pennsylvania, and has served approximately 3,000
clients worldwide throughout its 20-year history. ACS, a FORTUNE
500 company with more than 43,000 people supporting client
operations in nearly 100 countries, provides business process and
information technology outsourcing solutions to world-class
commercial and government clients. The company's Class A common
stock trades on the New York Stock Exchange under the symbol "ACS".
ACS makes technology work. Visit ACS on the Internet at
http://www.acs-inc.com/ . The statements in this news release that
do not directly relate to the historical facts constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
subject to numerous risks and uncertainties, many of which are
outside the Company's control. As such, no assurance can be given
that the actual events and results will not be materially different
than the anticipated results described in the forward-looking
statements. Factors could cause actual results to differ materially
from such forward-looking statements. For a description of these
factors, see the Company's prior filings with the Securities and
Exchange Commission, including the most recent Form 10-Q. ACS
disclaims any intention or obligation to revise any forward-looking
statements, whether as a result of new information, future event,
or otherwise. DATASOURCE: ACS, Inc. CONTACT: investors, Warren
Edwards, Executive Vice President-Chief Financial Officer,
+1-214-841-8082, or , or media, Lesley Pool, Senior Vice
President-Chief Marketing Officer, +1-214-841-8028, or , both of
Affiliated Computer Services, Inc. Web site:
http://www.acs-inc.com/
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