Glass Lewis and ISS Recommend That Cash Systems, Inc. Shareholders Vote "For" Merger
07 August 2008 - 10:47AM
Business Wire
Cash Systems, Inc. (NASDAQ: CKNN) (the �Company�) today announced
that Glass Lewis and ISS Governance Services, the two leading
independent proxy advisors firms, have recommended that Cash
Systems stockholders vote "FOR" the Company�s proposed merger
agreement with Global Cash Access (�GCA�) (NYSE: GCA) at its August
7, 2008 Annual Meeting of Stockholders. As announced on June 16,
2008, GCA will acquire Cash Systems for total aggregate
consideration of approximately $33 million which includes amounts
to be paid for all of Cash Systems' issued and outstanding shares
of common stock at $0.50 per share, all of Cash Systems'
outstanding convertible promissory notes and warrants for $21
million plus accrued but unpaid interest, and other transaction
related expenses. The Transaction has been approved by the boards
of directors of both companies. About Cash Systems Cash Systems,
Inc., located in Las Vegas, with an additional office in
Burnsville, MN, is a provider of cash-access and related services
to the retail and gaming industries. Cash Systems' products include
its proprietary cash advance systems, ATMs and check cashing
solutions. Please visit www.cashsystemsinc.com for more
information.
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