June 4, 2007 / 2:10 PM / in 10 years

1-800 CONTACTS to be acquired by Fenway Partners for $24.25 per share

2 Min Read

Co announced that it has entered into a definitive merger agreement with affiliates of Fenway Partners pursuant to which Fenway Partners will acquire 1-800 CONTACTS for $24.25 per share, representing a premium of approximately 21% over the June 1, 2007 closing share price of $20.08 and a premium of approximately 34% over the average closing share price during the 30 trading days ending June 1, 2007. The total value of the transaction is approximately $340 mln. "We believe this transaction with Fenway Partners is the right decision for our stockholders, our Company, our employees, and our customers. This transaction will not only provide significant premium value for our stockholders, but will allow the Company to pursue its long-term goals with the flexibility and long- term focus of a private company." Briefing.com note: See also our May 16 comment pointing to CTAC (and EYE) as possible takeover targets following BOL takeover. (Stock is halted)

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