Sabre Holdings Settles Merger Related Litigation
27 March 2007 - 12:17PM
Business Wire
Sabre Holdings Corporation (NYSE:TSG) announced today that it has
entered into memoranda of understanding with plaintiffs� counsel
and other named defendants regarding the settlement of both a
purported class action lawsuit (the McBride case) and a purported
derivative action (the Holowach case), brought on behalf of Sabre
Holdings stockholders. Both the McBride and Holowach cases were
filed in the District Court for the State of Texas in Tarrant
County following the December 12, 2006 announcement of the
Agreement and Plan of Merger by and among Sabre Holdings and
subsidiaries of Silver Lake Partners and Texas Pacific Group. Under
the terms of the memoranda, Sabre Holdings, the other named
defendants and the plaintiffs have agreed to settle both lawsuits,
subject to definitive documentation, any applicable procedural
requirements under Texas law and other conditions, and the
settlements will be presented to the courts in which each case is
pending for approval after the transaction has closed. The
settlements will not affect the amount of merger consideration to
be paid to stockholders of Sabre Holdings in connection with the
proposed merger. In addition, the settlements will not affect the
timing of the special meeting of stockholders of Sabre Holdings to
vote upon the proposal to adopt the merger agreement, which is
scheduled for March 29, 2007. The company anticipates that its
stockholders will approve the acquisition at the special meeting of
stockholders and that the acquisition will close on or about March
30, 2007. The company also filed this information and other details
via an 8-K filing with the SEC, which can be found at the SEC�s Web
site at�http://www.sec.gov, or via the company's Web site at
www.sabre-holdings.com/investor. About Sabre Holdings Sabre
Holdings connects people with the world's greatest travel
possibilities by retailing travel products and providing
distribution and technology solutions for the travel industry.
Sabre Holdings supports travelers, travel agents, corporations,
government agencies and travel suppliers through its companies:
Travelocity, Sabre Travel Network and Sabre Airline Solutions.
Headquartered in Southlake, Texas, the company has approximately
9,000 employees in 45 countries. Full-Year 2006 revenues totaled
$2.8 billion. Sabre Holdings, an S&P 500 company, is traded on
the NYSE under the symbol TSG. More information is available at
http://www.sabre-holdings.com. About the�Acquisition In connection
with the proposed merger of the company with affiliates of Texas
Pacific Group and Silver Lake Partners, the company filed a
definitive proxy statement with the Securities and Exchange
Commission on February 21, 2007. INVESTORS AND SECURITY HOLDERS ARE
STRONGLY ADVISED TO READ THE DEFINITIVE PROXY STATEMENT BECAUSE THE
DEFINITIVE PROXY STATEMENT CONTAINS, IMPORTANT INFORMATION.
Investors and security holders may obtain a free copy of the
definitive proxy statement and other documents filed by Sabre
Holdings at the Securities and Exchange Commission's Web site
at�http://www.sec.gov. The definitive proxy statement and such
other documents may also be obtained for free by directing such
requests to the Sabre Holdings investor relations department at
866-722-7347, or on the company's Web site at
www.sabre-holdings.com/investor. Sabre Holdings and its directors,
executive officers and certain other members of its management and
employees may be deemed to be participants in the solicitation of
proxies from its stockholders in connection with the proposed
merger. Information regarding the interests of such directors and
executive officers and all of Sabre Holdings� participants in the
solicitation is included in the definitive proxy statement, which
is available free of charge at the Securities and Exchange
Commission's Web site at www.sec.gov and from the Sabre Holdings
investor relations department at 866-722-7347, or on the company's
website at www.sabre-holdings.com/investor.
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