Mirant Announces Final Results of Tender Offer
30 August 2006 - 7:29AM
PR Newswire (US)
ATLANTA, Aug. 29 /PRNewswire-FirstCall/ -- Mirant Corporation
(NYSE:MIR) today announced the final results of its modified "Dutch
auction" tender offer to purchase up to 43,000,000 shares of the
company's common stock, which expired at 5:00 p.m., New York City
time, on Monday, August 21, 2006. Mirant has accepted for payment
an aggregate of 43,000,000 shares of its common stock at a purchase
price of $28.50 per share. These shares represent approximately 14
percent of the shares outstanding as of June 30, 2006. Mirant has
been informed by Mellon Investor Services, the depositary for the
tender offer, that the final proration factor for the tender offer
is approximately 85.6 percent. Based on the final count by the
depositary (and excluding any conditional tenders that were not
accepted due to the specified condition not being satisfied),
50,218,254 shares were properly tendered and not withdrawn at or
below a price of $28.50 per share. Payment for the shares accepted
for purchase, and return of all shares tendered and delivered and
not accepted for purchase, will be carried out promptly by the
depositary. As a result of the completion of the tender offer,
Mirant has approximately 257,068,663 shares of common stock
outstanding (basic). Any questions with regard to the tender offer
may be directed to Innisfree M&A Incorporated, the Information
Agent for the Offer, at 1 877 750 5836, or J.P. Morgan Securities
Inc., the Dealer Manager for the Offer, at 1 877 371 5947. Mirant
is a competitive energy company that produces and sells electricity
in the United States, the Caribbean, and the Philippines. Mirant
owns or leases approximately 17,300 megawatts of electric
generating capacity globally. The company operates an asset
management and energy marketing organization from its headquarters
in Atlanta. For more information, please visit
http://www.mirant.com/. Some of the statements included herein
involve forward-looking information. Mirant cautions that these
statements involve known and unknown risks and that there can be no
assurance that such results will occur. There are various important
factors that could cause actual results to differ materially from
those indicated in the forward-looking statements, such as, but not
limited to, the ability of Mirant and the depositary to timely
complete the remaining steps in the tender offer and other factors
discussed in Mirant's Form 10-K for the year ended December 31,
2005, and its Form 10-Q for the quarter ended June 30, 2006. Mirant
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Stockholder inquiries: 678 579 7777 DATASOURCE:
Mirant CONTACT: Media contact: Corry Leigh, +1-678-579-3111, ,
Investor Relations contacts: Mary Ann Arico, +1-678-579-7553, ,
Sarah Stashak, +1-678-579-6940, , all of Mirant, or Stockholder
inquiries: +1-678-579-7777 Web site: http://www.mirant.com/
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