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Swisher International, Inc. Completes Previously Announced Merger
CHARLOTTE, N.C., May 30 /PRNewswire-FirstCall/ -- Swisher
International, Inc., a corporation offering hygiene services and products
to businesses across the country, announced that it completed its
previously announced merger with HB Merger Sub, Inc., a wholly owned
subsidiary of HB Fairview Holdings LLC, a Delaware limited liability
company, on May 9, 2006. Under the merger agreement, Swisher International
stockholders (other than HB Fairview) are entitled to receive a cash
payment of $7 per share of common stock. The merger follows the final
settlement of a stockholder class action in Delaware state court whereby
former Swisher International stockholders who had previously tendered their
shares of common stock in a tender offer will receive $4 per share.
As a result of the merger, Swisher International is now a wholly owned
subsidiary of HB Fairview. Swisher International has been deleted from
NASDAQ and will no longer trade its stock over the counter on the pink
sheets (which had previously traded under the symbol "SWSH.PK").
American Stock Transfer & Trust Company, the paying agent, will mail to
those stockholders of record a letter of transmittal and instructions for
receiving payment of the merger consideration.
Safe Harbor Statement
Forward-looking statements in this release, including, without
limitation, statements relating to Swisher International's plans,
strategies, objectives, expectations, and intentions, are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward- looking statements involve known and unknown risks,
uncertainties, and other factors that may cause the actual results,
performance or achievements of Swisher International to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such forward-looking statements
are subject to risks and uncertainties that could cause actual results or
achievements to differ materially from those projected or implied. Such
risks and uncertainties include: satisfaction of various conditions to the
closing of the merger; existing and possible future litigation relating to
the merger; and the risks inherent in Swisher International's business.
Swisher International does not file reports with the Securities and
Exchange Commission. Swisher International does not undertake any
obligation to publicly release the results of any revisions to these
forward-looking statements, which may be made to reflect events or
circumstances occurring after the date hereof or to reflect the occurrence
of unanticipated events.
SOURCE Swisher International, Inc.
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