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JULY 2008 W5 ALERT D&M Holdings Says Bye-Bye RHJI…Hello BainRHJI Announces Launch of Bain Capital Tender Offer for D&M Holdings Shares<July 30, 2008>RHJ International SA announced Monday that K.K. BCJ-2, a corporation owned by investment funds advised by Bain Capital Partners LLC, has officially launched its previously announced tender offer for 100% of the outstanding shares of D&M Holdings, Inc.
The offer price has stayed at the originally suggested ¥510 per share ($4.72/share at current exchange rate) which is said to be 37.1% premium over the average closing price over the six months prior to June 19, 2008 or the day before the tender offer agreement was reached between the parties.
D&M’s Board of Directors has approved the tender offer.
In a prepared statement, Eric C. Evans, D&M Holdings Chairman and Chief Executive Officer said, “We fully support the tender offer from Bain Capital and encourage our shareholders to tender their shares in the process. We have done a thorough review of our strategic options and have determined that the tender offer from Bain Capital would contribute the most value to D&M Holdings and to our shareholders.”
 RHJI has already tendered their 48.5% holdings to Bain, and the remaining outstanding shares are expected to be obtained through the tender offer process. Following the completion of the tender offer period, D&M Holdings will be delisted from the Tokyo Stock Exchange. |
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