Trustmark and HealthFitness Announce Early Termination of Hart-Scott-Rodino Waiting Period
06 February 2010 - 8:32AM
PR Newswire (US)
LAKE FOREST, Ill. and MINNEAPOLIS, Feb. 5 /PRNewswire-FirstCall/ --
Trustmark Mutual Holding Company and Health Fitness Corporation
(NYSE AMEX: FIT) today announced that the U.S. Federal Trade
Commission has granted early termination of the waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act in
connection with Trustmark's proposed acquisition of HealthFitness.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090122/CG61641LOGO) On
January 21, 2010, the companies previously announced a definitive
agreement whereby Trustmark would acquire HealthFitness in a cash
tender offer and subsequent merger for approximately $97 million on
a fully diluted basis. Trustmark, through its wholly owned
subsidiaries Trustco Holdings, Inc. and Trustco Minnesota, Inc.,
commenced a cash tender offer to purchase all outstanding shares of
HealthFitness common stock on January 26, 2010. The tender offer
will expire at midnight on February 24, 2010, unless extended in
accordance with the terms of the merger agreement and the
applicable rules and regulations of the U.S. Securities and
Exchange Commission (SEC). Termination of the waiting period
satisfies one of the conditions to the closing of the tender offer.
The closing of the tender offer also is conditioned on the tender
of a majority of the outstanding shares of HealthFitness common
stock on a fully diluted basis and the satisfaction of other
customary closing conditions. Upon the successful closing of the
tender offer, shareholders of HealthFitness will receive $8.78 in
cash for each share of HealthFitness common stock tendered in the
offer, without interest and less any required withholding taxes.
Following the purchase of shares in the tender offer, HealthFitness
will operate as a stand-alone business unit reporting through
Trustmark. About Health Fitness Corporation HealthFitness is a
leading provider of integrated employee health improvement services
to Fortune 500 companies, the healthcare industry and individual
consumers. With 30-plus years of experience, HealthFitness partners
with employers to effectively manage healthcare and productivity
costs by improving individual health and wellbeing. HealthFitness
provides a portfolio of health and fitness management solutions,
including best-in-class integration, INSIGHT® Health Risk
Assessments, screenings, EMPOWERED(TM) Health Coaching, and fitness
facility design and management. For more information on
HealthFitness, visit http://www.hfit.com/. About The Trustmark
Companies Through its subsidiaries and operating divisions,
Trustmark provides access to a full spectrum of flexible benefit
solutions, including benefits administration, voluntary and group
medical benefits, and healthcare management programs. The success
of each Trustmark company is based on building and maintaining
trust through personal, responsive service and flexible benefit
solutions. For more information on Trustmark, visit
http://www.trustmarkcompanies.com/. Important Additional
Information This press release relates to the tender offer (the
"Offer") by Trustmark Mutual Holding Company ("Trustmark"), through
its wholly owned subsidiaries Trustco Holdings, Inc. ("Trustco
Holdings") and Trustco Minneosta, Inc. ("Trustco Minnesota"), to
purchase each outstanding share of common stock of Health Fitness
Corporation ("HealthFitness") in exchange for $8.78 in cash. This
press release is for informational purposes only and does not
constitute an offer to purchase, or a solicitation of an offer to
sell, shares of common stock of HealthFitness, nor is it a
substitute for the Tender Offer Statement on Schedule TO (including
the Offer to Purchase, Letter of Transmittal and related tender
offer documents and as amended from time to time, the "Tender Offer
Documents") filed by Trustmark, Trustco Holdings and Trustco
Minnesota with the Securities and Exchange Commission (the "SEC")
on January 26, 2010. The Offer is being made only through the
Tender Offer Documents. Before making any decision with respect to
the Offer, investors and HealthFitness shareholders are strongly
advised to read the Tender Offer Documents, the related
Solicitation/Recommendation Statement on Schedule 14D-9 filed by
HealthFitness with the SEC on January 26, 2010, and other relevant
materials when they become available, because they will contain
important information. Investors and HealthFitness shareholders can
obtain copies of the Tender Offer Documents and related
Solicitation/Recommendation Statement on Schedule 14D-9 (and all
other related documents filed with the SEC) at no charge on the
SEC's website at http://www.sec.gov/. Copies can also be obtained
at no charge by directing a request to Georgeson, Inc. at
Georgeson, 199 Water Street - 26th Floor, New York, New York 10038
or by phone at (800) 509-1038 or to Trustmark Mutual Holding
Company at Trustmark Companies, 400 Field Drive, Lake Forest,
Illinois 60045, Attention: Carol Egan, or by phone at (847)
283-2520. Investors and HealthFitness shareholders may also read
and copy any reports, statements and other information filed by
Trustmark, Trustco Holdings, Trustco Minnesota or HealthFitness
with the SEC, at the SEC public reference room at 100 F Street,
N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330
or visit the SEC's website for further information on its public
reference room.
http://www.newscom.com/cgi-bin/prnh/20090122/CG61641LOGO
http://photoarchive.ap.org/ DATASOURCE: Health Fitness Corporation
CONTACT: Carol Egan, External Corporate Communications Director of
Trustmark Mutual Holding Company, +1-847-283-2520; or Wes
Winnekins, Chief Financial Officer of HealthFitness,
+1-952-897-5275 Web Site: http://www.hfit.com/
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