Airborne Confirms Discussions With DHL Regarding Potential Transaction.Business Editors SEATTLE--(BUSINESS WIRE)--March 24, 2003 Airborne, Inc. (NYSE NYSE See: New York Stock Exchange : ABF ABF Arbetarnas BildningsFörbund ABF American Breakfast (Thailand Hotels) ABF Associated British Foods plc (London, UK) ABF Association des Bibliothecaires Francais (French) ) today confirmed it is in discussions with DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature Worldwide Express regarding a potential transaction in which DHL would acquire Airborne's ground operations for cash at a premium to Airborne's current share price. As part of the transaction, Airborne's air operations would become an independent public company that would continue to be wholly owned by Airborne's current shareholders. While Airborne believes such a transaction would have significant strategic benefits to its customers, employees, and shareholders, no agreement has been reached and there can be no assurance one will be reached. A statement from an Airborne spokesman, quoted on Reuters earlier today, is inaccurate. If an agreement is reached, it will be subject to a number of conditions, including stockholder and regulatory approvals. Airborne does not intend to make any further public announcements regarding these discussions until an agreement is reached or discussions are terminated. About Airborne, Inc.: Airborne, Inc. is the holding company for Airborne Express Airborne Express (IATA: n/a, ICAO: ABX, and Callsign: Abex) was an express delivery company and cargo airline. Headquartered in Seattle, Washington, its hub was at Wilmington, Ohio. . For more than 50 years, Airborne Express has served the shipping needs of business customers around the world. Today, Airborne offers total distribution solutions by providing customers time-sensitive delivery of documents, letters, small packages, and freight to virtually every U.S. ZIP code zip code System of postal-zone codes (zip stands for “zone improvement plan”) introduced in the U.S. in 1963 to improve mail delivery and exploit electronic reading and sorting capabilities. and more than 200 countries. Customers can select from a variety of services including same-day, next-morning, next-afternoon or second-day delivery, air freight air freight n → flete m por avión air freight n → fret aérien air freight air n → Luftfracht f , ocean service, and logistics management. Business Risks and Forward-Looking Statements: This press release contains forward-looking statements that the Company intends to be covered by the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions for forward-looking statements. These forward-looking statements involve risks and uncertainties. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking statements, including, but not limited to, domestic and international economic conditions, the impact of war and terrorism on the air package delivery business, the ability to mitigate rising fuel costs, competitive pressure, maintaining customer relationships, changes in customers' shipping patterns, and other risks and uncertainties that are described in the reports that the Company files with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2002. |
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