Silver Lake and TPG Complete Acquisition of Sabre Holdings
March 30 2007 - 2:00PM
Business Wire
Sabre Holdings (NYSE:TSG) today announced the completion of the
acquisition of the company by affiliates of Silver Lake and TPG. At
a special meeting of stockholders held Thursday, the company�s
stockholders voted to approve the acquisition and adopt the
agreement under which Sabre Holdings stockholders are entitled to
receive $32.75 per share in cash for each share of the company�s
common stock, without interest and subject to applicable tax
withholding. The shares that were voted in favor of the acquisition
represented approximately 62 percent of the total number of shares
outstanding and entitled to vote, and approximately 87 percent of
the shares that were voted. On April 2, the company intends to
deregister and delist Sabre Holdings common stock and deregister
the company�s 2011 and 2016 senior unsecured notes. After
settlement of share transfers that occurred before March 30, there
will be no further transfers of the company�s stock. Although it
will no longer be a public entity, the company still plans to
provide periodic financial updates on its web site. American Stock
Transfer & Trust Company (AST) will act as the paying agent to
distribute the cash acquisition consideration for shares of the
company�s stock. Shareholders will be contacted by AST or their
bank, broker or other holder of record with instructions on how to
surrender stock certificates for the acquisition consideration.
Stockholders should not send stock certificates without a letter of
transmittal from the paying agent. For more information,
shareholders should contact their bank, broker or other holder of
record, or call AST at 718-921-8317 or toll free at 877-248-6417.
About Sabre Holdings Sabre Holdings connects people with the
world's greatest travel possibilities by retailing travel products
and providing distribution and technology solutions for the travel
industry. Sabre Holdings supports travelers, travel agents,
corporations, government agencies and travel suppliers through its
companies: Travelocity, Sabre Travel Network and Sabre Airline
Solutions. Headquartered in Southlake, Texas, the company has
approximately 9,000 employees in 45 countries. More information is
available at http://www.sabre-holdings.com.
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