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TOYOTA INDUSTRIES CORP Completes Acquisition Of Cascade Corp

Thursday, 28 Mar 2013 02:51pm EDT 

TOYOTA INDUSTRIES CORP announced that TICO has successfully completed its acquisition of Cascade for $65.00 per share in a transaction valued at approximately $760 million. The transaction creates a global materials handling business with a wider spectrum of high products related to the lift truck business. While wholly owned, Cascade will continue to be based in Fairview, Oregon and will operate as an independent subsidiary of TICO. Cascade`s strict policies on confidentiality regarding competitive information will remain unchanged. TICO completed the acquisition of Cascade through a tender offer and a short-form merger, without a vote or meeting of Cascade`s shareholders. In the merger, each outstanding share of Cascade`s common stock not purchased in the tender offer or otherwise owned by TICO was converted into the right to receive the same $65.00 consideration that was provided in the tender offer, less any required withholding taxes and without interest. Cascade`s common stock will cease to be traded on the NYSE. TICO intends to de-register Cascade`s common stock as promptly as practicable following the effective time of the merger. Nomura Securities is serving as exclusive financial advisor to TICO and White & Case LLP is serving as legal advisor in connection with the transaction. BofA Merrill Lynch is serving as exclusive financial advisor to Cascade, and Miller Nash LLP is serving as Cascade's legal advisor. 

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