DR PEPPER/SEVEN-UP SHAREHOLDERS APPROVE MERGER AGREEMENT OF DALLAS-BASED SOFT DRINK COMPANY WITH CADBURY SCHWEPPES PLC.LONDON, June 6, 1995--(BUSINESS WIRE)--Cadbury Schweppes plc (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 : CADBY) today announced that shareholders of Dr Pepper/Seven-Up Companies, Inc. (NYSE NYSE See: New York Stock Exchange : DPS Minicomputer series from Bull HN. 1. (language, text) DPS - Display PostScript. 2. (language) DPS - A real-time language with direct expression of timing requests. ["Language Constructs for Distributed Real-Time PRogramming", I. ) yesterday approved and adopted a merger agreement to fully effect the purchase of the Dallas- based soft drink maker by Cadbury Schweppes plc, London, England. The necessary two-thirds affirmative vote was certified by the company's transfer agent during the annual meeting of shareholders held at the Dr Pepper/Seven-Up headquarters on Monday, June 5, 1995. On February 1, 1995, DP/SU Acquisition Inc., an indirect subsidiary of Cadbury Schweppes plc, commenced a tender offer to acquire all of the issued and outstanding shares of common stock of Dr Pepper/Seven-Up Companies, Inc. not already owned by Cadbury at a price of $33.00 per share. The offer was made pursuant to an Agreement and Plan of Merger dated January 25, 1995, among Cadbury Schweppes plc, DP/SU Acquisition Inc. and Dr Pepper/Seven-Up Companies, Inc. As a result of the merger and as soon as practicable, each share of Dr Pepper/Seven-Up (DPS) common stock, other than shares held by Cadbury or its affiliates and shares held by stockholders seeking appraisal rights Appraisal rights A right of shareholders in a merger to demand the payment of a fair price for their shares, as determined independently. under Delaware state law, will be automatically converted into the right to receive $33.00 in cash, without interest. On March 13, 1995, Cadbury Schweppes plc announced that approximately 98.7 percent (45.4 million shares of DPS common stock) were tendered and accepted for payment. Shares not tendered by the March 1, 1995 expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.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. , primarily as a result of failures of certain guaranteed deliveries, have been traded until yesterday's merger approval. Cadbury Schweppes plc is the largest British-owned confectionery and soft drinks company. Cadbury Schweppes ADRs are traded on NASDAQ. The ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors is CADBY. One ADR ADR - Astra Digital Radio equals four ordinary shares. CONTACT: Cadbury Schweppes Chris Milburn, Director, Corporate Communications Dora McCabe, Group Public Relations Manager 011 44 171 409 1313 OR Gavin Anderson & Company Cameron King 212-373-0200 |
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