Alliance Capital Management L.P. Announces Results of Exchange Offer.NEW YORK--(BUSINESS WIRE)--Oct. 29, 1999-- Alliance Capital Management L.P. (NYSE NYSE See: New York Stock Exchange : AC) ("Alliance") announced that it has accepted for exchange all units of Alliance validly tendered pursuant to its exchange offer for outstanding units of Alliance. Approximately 4,713,279 Alliance Units were tendered in the exchange offer. Alliance exchanged all tendered Units for units in the new private partnership. No tendered Units were rejected pursuant to the cap on tenders. In addition, Equitable Life Equitable Life may refer to:
As previously announced, Alliance implemented the reorganization as of the close of business today. Alliance transferred its business to the newly-formed private limited partnership which will conduct Alliance's business without change in management or employee responsibilities. Alliance's principal asset is its interest in the new partnership, and it will function solely as a holding company through which public Unitholders will continue to own an indirect interest in Alliance's business. Immediately after the reorganization, Alliance changed its name to "Alliance Capital Management Holding L.P.", and the new partnership will assumed the name "Alliance Capital Management L.P." Alliance Capital Management Holding L.P. units will continue to trade on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "AC" with a new CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No. 01855A101. Total outstanding units of Alliance Capital Management Holding L.P. are now approximately 71.8 million. About Alliance Capital Management L.P. Alliance is a major asset manager, ranked 12th in the world at year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 1998, with more than $317.3 billion in client assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. at September September: see month. 30, 1999. Alliance manages retirement assets for many of the largest public and private employee benefit plans (including 28 of the nation's Fortune 100 companies), for public employee retirement funds in 31 out of the 50 states, and for foundations, endowments, banks, and insurance companies worldwide. Alliance is one of America's largest mutual fund sponsors, with a diverse family of fund portfolios and approximately 4.8 million shareholder accounts. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion