CUC International announces mailing of proxies for software acquisitions.STAMFORD, Conn.--(BUSINESS WIRE)--June 20, 1996--CUC International Inc. (NYSE NYSE See: New York Stock Exchange :CU) announced today that the proxy statements Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. for the respective special stockholders' meetings of Davidson & Associates, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DAVD) and Sierra On-Line, Inc. (NASDAQ:SIER SIER Special Instruction Engineering Release SIER Software Integration Evaluation Record SIER Simulation of International Economic Relations (game) ) will be mailed on or about June 21, 1996. The special meetings, at which the Davidson and Sierra stockholders will vote on CUC's respective acquisitions of such companies by merger, are scheduled to occur July 24, 1996. The closing of each proposed transaction is scheduled to occur immediately after the respective stockholders' meetings, subject to obtaining the requisite stockholder vote and the satisfaction or waiver of all applicable conditions. The record date for the Davidson stockholders' meeting is June 7, 1996 and the record date for the Sierra stockholders' meeting is June 17,1996. No vote of CUC International CUC (Comp-U-Card) International Inc., a huge membership-based consumer services conglomerate with travel, shopping, auto, dining, home improvement and financial services offered to more than 60 million customers worldwide based out of Stamford, Connecticut and headed by Kirk stockholders is necessary to approve these transactions. Upon the closing of the Davidson merger, each outstanding share of Davidson common stock will be converted into .85 share of CUC International Inc. Common Stock and upon the closing of the Sierra merger, each outstanding share of Sierra common stock will be converted into 1.225 shares of CUC International Inc. Common Stock. CUC International Inc. is a leading membership-services company, currently providing over 48 million consumers with access to a variety of services including home shopping Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. , travel, insurance, auto, dining, home improvement, lifestyle clubs, checking account enhancements and discount coupon programs. CONTACT: Laura Plevyak Hamilton (203) 965-5114 or Cosmo Corigliano (203) 326-8821 |
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