ARAMARK Announces Results of Class A Common Stock Tender Offer.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Jan. 28, 2002 ARAMARK (NYSE NYSE See: New York Stock Exchange :RMK RMK Remark (Weather METAR) RMK Rocky Mountain King (Polaris Snowmobiles) RMK Remarks RMK Resource Manager Kernel ), a world leader in managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , today announced the preliminary results of its tender offer to purchase a portion of its shares of Class A Common Stock. Based on preliminary results, ARAMARK has accepted for payment a total of approximately 13,400,000 shares of Class A Common Stock or 9.5% of the aggregate outstanding Class A shares as of the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the tender offer (excluding shares held by ARAMARK's 401(k) plans). The purchase price will be $23 per share. The tender offer expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. at 12:00 noon, Philadelphia time, on Friday, January 25, 2002. The purchase of the shares in the tender offer is being funded with part of the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of ARAMARK's public offering of its Class B Common Stock, completed on December 14, 2001, at a price of $23 per share. In addition, on December 14, 2001, ARAMARK repurchased 3,276,700 shares of its Class A Common Stock from the corporation's 401(k) plans, representing 10% of the Class A Common Stock held by the 401(k) plans, at a price of $23 per share. Based on the preliminary results of the tender offer, after the tender offer there are approximately 158,000,000 Class A Common shares outstanding and approximately 34,500,000 Class B Common shares outstanding. This completes the tender offer described in the prospectus for the company's public offering. About ARAMARK ARAMARK is a $9 billion world leader in providing managed services - including food, facility and other support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , uniform and career apparel, and childcare and early education. ARAMARK has leadership positions serving the business, education, healthcare, government, sports, entertainment and recreation sectors. The company, headquartered in Philadelphia, has approximately 200,000 employees serving customers in 17 countries. |
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