Alliance Imaging, Inc. Signs Merger Agreement With Kohlberg Kravis Roberts & Co.ANAHEIM, Calif.--(BUSINESS WIRE)--Nov. 3, 1999-- Alliance Imaging, Inc. today announced the completion of its merger, effective Nov. 2, 1999, with an affiliate of Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co. L.P. ("KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) ") and a recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of the Company. In the merger, approximately 95% of the fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. common stock of Alliance (excluding options and warrants) was retired. As a result of the merger, KKR owns approximately 90% of the common stock of Alliance on a fully diluted basis and existing shareholders and option holders will own approximately 10%. Alliance's outstanding debt was repaid in the merger. After payment of the Company's outstanding Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and payment of transaction expenses, the Company's common shareholders will receive approximately $56 per share in cash. Alliance is a leading provider of comprehensive diagnostic imaging and therapeutic services to hospitals and other health care providers. Services are provided on either a mobile, shared-user or on a full-time single-user basis. For more information about Alliance via facsimile, call 800/PRO-INFO and dial client code "SCAN". |
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