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Ericsson fullföljer kontant uppköpserbjudande avseende Redback Networks

jan 24, 2007 15:53 (GMT +00:00)

Ericsson (NASDAQ:ERIC) meddelar idag att man fullföljt uppköpserbjudandet avseende samtliga utestående aktier i Redback Networks Inc. (NASDAQ:RBAK) för 25 USD kontant per aktie, genom sitt indirekt helägda dotterbolag Maxwell Acquisition Corporation.
 
Anbudstiden för uppköpserbjudandet löpte ut vid midnatt tisdagen den 23 januari 2007, amerikansk östkusttid.


Den förvaltare som handhar budet har meddelat Ericsson att vid anbudstidens slut har ungefär 71449547 aktier (inklusive 6947508 aktier som offererats med garanterad leverans) giltigen offererats och inte återtagits. Dessa aktier utgör mer än 90 procent av Redbacks emitterade och utestående aktier. Samtliga offererade aktier har accepterats för betalning i enlighet med villkoren för uppköpserbjudandet.


Ericsson avser att slutföra förvärvet av Redback genom ett förenklat fusionsförfarande så snart det är praktiskt genomförbart. Om så erfordras kommer Ericsson att utnyttja sin option enligt fusionsavtalet  att förvärva nyemitterade aktier i Redback för att uppnå äganderätt till åtminstone 90 procent av utestående aktier i Redback för att kunna genomföra det förenklade fusionsförfarandet. Genom det förenklade fusionsförfarandet omvandlas samtliga  utestående aktier i Redback som inte förvärvats genom uppköpserbjudandet till en rätt att kontant erhålla 25 USD per aktie.


FÖR YTTERLIGARE INFORMATION:


Länk till tidigare press meddelander om Redback uppköp


Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
 
 
FOR FURTHER INFORMATION, PLEASE CONTACT
 
Ericsson
Ericsson Media Relations
Phone: +46 8 719 6992
E-mail: press.relations@ericsson.com
 
Ericsson Investor Relations
Phone: +46 8 719 0858
E-mail: investor.relations.se@ericsson.com
 
Investor Relations, North America
Phone: +1 212 843 8435
E-mail: investor.relations@ericsson.com


Redback Networks
Media
Doug Wills
Phone: +1 408 750 5038
 
Investor Relations
Phone: +1 408 750 5505


About Redback 
Redback Networks Inc. manages 50 million broadband connections for 15 of the top 20 telephone carriers worldwide. Redback's multi-service routing platform delivers next-generation broadband services such as VoIP, IPTV and video-on-demand. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, California, the US. In 2006, Redback marks its 10-year anniversary, celebrating 10 years of broadband innovation. For more information, visit Redback Networks at www.redback.com.


Forward-looking statements 
Any statements made regarding the proposed transaction between Ericsson and Redback, the expected timetable for completing the transaction, successful integration of the business, benefits of the transaction, earnings and any other statements contained in this news release that are not purely historical fact are forward-looking statements, which involve a number of risks and uncertainties. These statements are based on Ericsson's and Redback's current expectations and beliefs. Actual results could differ materially from the results implied by these statements. Factors that may cause or contribute to such differences include: the risk that the conditions to the offer or the merger set forth in the merger agreement will not be satisfied, changes in both companies' businesses during the period between now and the closing, developments in obtaining regulatory approvals for the transaction; the successful integration of Redback into Ericsson's business subsequent to the closing of the acquisition; timely development, competitive products and pricing, as well as fluctuations in demand; cost and availability of raw materials; the ability to retain key management and technical personnel of Redback; and adverse reactions to the proposed transaction by customers, suppliers and strategic partners. Redback and Ericsson are under no obligation to (and expressly disclaim any such obligation to) update or alter their forward-looking statements whether as a result of new information, future events or otherwise.
This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities.  The tender offer is being made pursuant to a Tender Offer Statement on Schedule TO (including the Offer to Purchase, the related Letter of Transmittal and other tender offer materials) filed by Ericsson and Maxwell Acquisition with the SEC on December 22, 2006, as amended. In addition, Redback filed a Solicitation/Recommendation Statement on Schedule 14D-9 on December 22, 2006, as amended, with the SEC related to the tender offer.  The Tender Offer Statement (and related materials) and the Solicitation/Recommendation Statement contain important information that should be read carefully before any decision is made with respect to the tender offer. Those materials may be obtained at no charge upon request to MacKenzie Partners, Inc., the information agent for the tender offer, at 105 Madison Avenue, New York, New York 10016, or by calling toll free (from USA) at (800) 322-2885.  In addition, all of those materials (and all other offer documents filed with the SEC) are available at no charge on the SEC's website at www.sec.gov.