Aramark announces signing of merger agreement

Aramark announces signing of merger agreement

Aramark Corporation, a world leader in professional services, today announced that it has signed a definitive merger agreement to acquire the company in a transaction valued at approximately $8.3 billion, including the assumption or repayment of approximately $2.0 billion of debt. Joseph Neubauer and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC are buyers.

Under the terms of the agreement, Aramark stockholders will receive $33.80 in cash for each share of ARAMARK common stock they hold. The transaction is expected to be completed by late 2006 or early 2007, subject to receipt of stockholder approval and regulatory approvals, as well as satisfaction of other customary closing conditions. In addition to the vote required under Delaware law, the transaction will be subject to an additional affirmative approval of stockholders in which each share owned by Joseph Neubauer will have only one vote, rather than the ten votes to which they are entitled. As a result, Neubauer‘s voting power will be less than 5% of the total possible vote.


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