1-800 CONTACTS, INC.
1-800 CONTACTS to Be Acquired by Fenway Partners
Published in Healthcare Mergers, Acquisitions and Ventures Week, June 23rd, 2007
1-800 CONTACTS, INC. (NASDAQ:CTAC) (the "Company") announced that it has entered into a definitive merger agreement with affiliates of Fenway Partners, LLC pursuant to which Fenway Partners will acquire 1-800 CONTACTS for $24.25 per share, representing a premium of approximately 21 percent over the June 1, 2007 closing share price of $20.08 and a premium of approximately 34 percent over the average closing share price during the 30 trading days ending June 1, 2007. The total value of the transaction is approximately $340 million.
Jonathan Coon, Chief Executive Officer of the Company, remarked, "We believe this transaction with Fenway Partners is the right decision for...
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