Charles Schwab and SoundView Technology Group Announce Satisfaction Of Governmental and Regulatory Approval Condition to Tender
09 January 2004 - 12:00AM
PR Newswire (US)
Charles Schwab and SoundView Technology Group Announce Satisfaction
Of Governmental and Regulatory Approval Condition to Tender Offer
SAN FRANCISCO and OLD GREENWICH, Conn., Jan. 8
/PRNewswire-FirstCall/ -- The Charles Schwab Corporation ,
("Schwab"), and SoundView Technology Group, Inc. , ("SoundView")
today announced that effective January 5, 2004, SoundView had
received the final regulatory approval necessary for the
consummation of the tender offer, which was the approval of the
change of ownership application of SoundView by the NASD. The
receipt of the approval from the NASD satisfies the governmental
and regulatory approval condition to the consummation of the tender
offer by a subsidiary of Schwab for all of the outstanding shares
of capital stock of SoundView. All other regulatory notifications
(including the Pacific Exchange and the securities commissions of
various states) and waiting periods (including under the
Hart-Scott-Rodino Act) that are required for the consummation of
the tender offer have been completed or expired. As previously
announced, Schwab and SoundView entered into a merger agreement
pursuant to which a wholly owned subsidiary of Schwab, Shakespeare
Merger Corporation, commenced on December 3, 2003 an all cash
tender offer for all of the outstanding shares of capital stock of
SoundView at a purchase price of $15.50 per share, net to the
Seller in cash, without interest thereon. The offer is scheduled to
expire at midnight, New York City time, on Friday, January 9, 2004.
This news release is for information purposes only. It does not
constitute an offer to purchase shares of SoundView or a
Solicitation/Recommendation Statement, under the rules and
regulations of the Securities and Exchange Commission. The tender
offer is being made only through the Offer to Purchase, dated
December 3, 2003, the Letter of Transmittal enclosed with the Offer
to Purchase and the Supplement to the Offer to Purchase, dated
December 31, 2003, which are available from Georgeson Shareholder
Communications, Inc., the Information Agent for the tender offer,
at 17 State Street, Tenth Floor, New York, NY 10007, toll-free
800-213-0473, or from the Securities and Exchange Commission's web
site at http://www.sec.gov/. Shakespeare Merger Corporation, a
wholly owned subsidiary of Schwab, has filed with the Securities
and Exchange Commission a Tender Offer Statement on Schedule TO and
SoundView has filed a Solicitation/Recommendation Statement on
Schedule 14D-9, each of which has been amended. These documents
contain important information and security holders of SoundView are
advised to read these documents carefully before making any
decision with respect to the tender offer. These documents may be
obtained free of charge at the Securities and Exchange Commission's
web site at http://www.sec.gov/. About Charles Schwab The Charles
Schwab Corporation, through Charles Schwab & Co., Inc. (member
SIPC/NYSE), U.S. Trust Corporation, CyberTrader, Inc. (member
SIPC/NASD) and its other operating subsidiaries, provides a broad
range of financial and brokerage services to individual investors,
independent investment managers and institutions.
http://www.schwab.com/. About SoundView Technology Group, Inc.
SoundView Technology Group, Inc. is the parent of SoundView
Technology Corporation, a research-driven securities firm focused
on providing institutional investors with fundamental research on
companies in technology, media, telecom, healthcare and other
growth-related industries. Old Greenwich, Connecticut-based
SoundView produces comprehensive sell-side equity research on
approximately 210 companies. On November 19, 2003, SoundView
announced an agreement to be acquired by The Charles Schwab
Corporation. For more information, please see
http://www.soundview.com/. (0004-7095) DATASOURCE: The Charles
Schwab Corporation CONTACT: media, Jennifer Hallahan,
1-212-804-3668, or , or investors, Richard Fowler, +1-415-636-9869,
or , both of The Charles Schwab Corporation Web site:
http://www.soundview.com/ Web site: http://www.schwab.com/
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