ATC Technology Corporation and GENCO Distribution System, Inc. Announce Expiration of Hart-Scott-Rodino Waiting Period for Pendi
07 September 2010 - 10:00PM
ATC Technology Corporation (ATC) (Nasdaq:ATAC) and GENCO
Distribution System, Inc. today announced that the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976
relating to GENCO's proposed merger with ATC has expired, thereby
satisfying a condition to the closing of the transaction. The
transaction remains subject to the satisfaction of other customary
closing conditions including completion of GENCO's financing and
approval by the stockholders of ATC. ATC and GENCO continue to
expect that the merger will be completed in the fourth quarter of
2010.
About ATC
ATC is headquartered in Downers Grove, Illinois. ATC
provides comprehensive engineered solutions for logistics and
refurbishment services to the consumer electronics industries and
the light-, medium- and heavy-duty vehicle service parts
markets.
The ATC Technology Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5184
About GENCO
GENCO Distribution System, Inc. is headquartered in Pittsburgh,
Pennsylvania. The privately held company provides contract
logistics, reverse logistics, product liquidation, pharmaceutical
logistics, and government solutions for manufacturers, retailers,
and U.S. government agencies. For more information visit
www.genco.com.
Additional Information and Where to Find It
In connection with the proposed acquisition by GENCO, ATC has
filed a preliminary proxy statement and other relevant documents
concerning the transaction with the SEC. STOCKHOLDERS OF ATC
ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE TRANSACTION.
Investors and security holders can obtain free copies of the
proxy statement and other documents filed with the SEC by ATC
through the web site maintained by the SEC at
www.sec.gov. Free copies of the proxy statement and ATC's
other filings with the SEC also may be obtained from ATC. Free
copies of ATC's filings may be obtained by directing a request to
the Investor Relations Department at ATC's website at
www.goatc.com.
ATC and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from ATC's stockholders
with respect to the transactions contemplated by the definitive
agreement between GENCO and ATC. Information regarding ATC's
directors and executive officers is contained in ATC's Annual
Report on Form 10-K for the year ended December 31, 2009 and
its definitive proxy statement for its 2010 Annual Meeting of
Stockholders, which were filed with the SEC on April 28, 2010.
You can obtain free copies of these documents from ATC using
the contact information set forth above. Additional
information regarding interests of such participants is included in
the proxy statement filed with the SEC on August 23, 2010 and
available free of charge as indicated above.
Forward-Looking Statements
This publication contains various "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding the proposed acquisition of ATC by GENCO and the
risks and uncertainties related to the occurrence of future events.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
current economic environment, ATC and its industry. Certain
factors that could cause actual events not to occur as expressed in
the forward-looking statements include, but are not limited to, (i)
the failure to obtain the necessary approval by ATC's stockholders,
(ii) the failure, under certain circumstances, of GENCO to meet the
conditions set forth in its equity and debt financing documents and
(iii) the satisfaction of various other closing conditions
contained in the definitive merger agreement. Other potential
risks and uncertainties are discussed in ATC's reports and other
documents filed with the SEC from time to time. ATC assumes
no obligation to update the forward-looking information. Such
forward-looking statements are based upon many estimates and
assumptions and are inherently subject to significant economic and
competitive uncertainties and contingencies, many of which are
beyond the control of ATC's management. Inclusion of such
forward-looking statements herein should not be regarded as a
representation by ATC that the statements will prove to be
correct.
CONTACT: ATC Technology Corporation
Mary Ryan
630.663.8283
maryan@corpatc.com
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