Bestfoods Receives Requisite Consents in Solicitation, Offers Early Consent Fee to Remaining Holders Who Tender and Consent.Business Editors ENGLEWOOD CLIFFS, NJ--(BUSINESS WIRE)--March 13, 2000 Bestfoods today announced that it had received the requisite consents in the tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the 10.75% Notes due 2005 (the "Notes") of Arisco Produtos Alimenticios S.A. ("Arisco"), a wholly owned indirect subsidiary of Bestfoods, as of March 10, 2000 (the "Consent Payment Deadline"). The tender offer is scheduled to expire at 11:59 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on March 24, 2000 (the "Expiration Date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. "), unless extended. Bestfoods also announced today that it had amended the terms of the consent solicitation such that it will pay the early consent fee of $30.00 per $1,000 principal amount of Notes tendered prior to the Expiration Date for the tender offer and accepted for purchase. Prior to this amendment the consent fee was only available to holders who tendered prior to the Consent Payment Deadline. The Expiration Date remains unchanged. Salomon Smith Barney is the dealer manager and solicitation agent and D.F. King & Co., Inc. is the information agent for the tender offer and the solicitation. Requests for documentation should be directed to D.F. King & Co., Inc. at 800-269-6427. Questions regarding the transaction should be directed to Salomon Smith Barney at 800-558-3745. This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Notes. The tender offer and consent solicitation are being made solely by the Offer to Purchase and Consent Solicitation Statement and related Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. and Consent, dated February 28, 2000. ### ABOUT BESTFOODS: Bestfoods, formerly CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. International Inc., is among the largest U.S. food companies, with sales of $8.6 billion in 1999. Best known among Bestfoods' U.S. products are: Hellmann's and Best Foods Hellmann's and Best Foods are brand names that are used for the same line of mayonnaise and other food products. The Hellmann's brand is sold in the United States east of the Rocky Mountains, and also in Latin America, Europe, and Canada. mayonnaise and dressings; Mazola corn oil and margarine; Skippy peanut butter; Knorr soups, sauces, and bouillons; Entenmann's sweet baked products; Thomas' English muffins; Arnold, Brownberry, Freihofer's, and Oroweat breads; Boboli pizza crusts; Mueller's pasta; and Karo KARO Kane Amateur Radio Operators (Kane, PA) syrup. Bestfoods' global Knorr brand comprises one of the world's most extensive lines of products. Bestfoods is one of the nation's most international food companies, with operations in more than 60 countries and products marketed in 110 countries. For more information about Bestfoods, visit the company's Web site on the Internet at: http://www.bestfoods.com. |
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