NAPERVILLE, Ill., Feb. 21, 2017 /PRNewswire/ -- Calamos Partners
LLC ("Calamos Partners") and its subsidiary, CPCM
Acquisition, Inc. (the "Acquirer"), today announced that
they have successfully completed the tender offer to purchase all
outstanding shares of the Class A common stock of Calamos Asset
Management, Inc. (NASDAQ: CLMS) ("CAM"), for $8.25 per share in cash.
The tender offer expired at 11:59
PM, New York City time, on
February 17, 2017. As of the
expiration, 6,022,875 shares had been validly tendered and not
validly withdrawn, representing approximately 29.3% of CAM's shares
of Class A common stock. The conditions to the tender offer were
satisfied or waived, and the Acquirer has accepted for payment, at
12:01 a.m., New York City time, on February 18, 2017, and will promptly pay the
depositary for, all validly tendered shares.
Calamos Partners expects to complete the acquisition of CAM
later today through a merger without a vote or meeting of CAM's
stockholders, pursuant to Section 251(h) of the General Corporation
Law of the State of Delaware. Each
of the remaining shares of CAM Class A common stock not purchased
in the tender offer (other than shares owned by Calamos Partners
and its affiliates, and shares for which appraisal was properly
sought under applicable law) will be automatically converted into
the right to receive the same $8.25
in cash that will be paid in the tender offer. Upon completion of
the merger, CAM will become a wholly owned subsidiary of Calamos
Partners.
Forward Looking Statements
Any statements made in this communication that are not
statements of historical fact, including statements about the
expected timetable for completing the transaction and the potential
effects of the acquisition, are forward-looking statements that are
based on management's beliefs, certain assumptions and current
expectations and should be evaluated as such. These statements may
be identified by their use of forward-looking terminology such as
the words "expects," "projects," "anticipates," "intends" and other
similar words. Forward-looking statements include statements that
may relate to CAM's or Calamos Partners' plans, objectives,
strategies, goals, future events, future revenues or performance,
and other information that is not historical information. Such
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected. The forward-looking statements contained in this press
release are made as of the date that the press release is issued,
and Calamos Partners undertakes no obligation to update any
forward-looking statements, whether as a result of future events,
new information or otherwise, except as required by law. All
forward-looking statements in this document are qualified in their
entirety by this cautionary statement.
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SOURCE Calamos Asset Management, Inc.