LOS ANGELES, Nov. 1, 2013 /PRNewswire/ -- Marlin Equity
Partners ("Marlin"), a global investment firm, today announced that
Blackhawk Merger Sub Inc. ("Purchaser") has commenced the
previously-announced cash tender offer for all of the outstanding
shares of Tellabs, Inc. (NASDAQ: TLAB) ("Tellabs") at a price of
$2.45 per share, net to seller in
cash without interest. Purchaser and its parent company, Blackhawk
Holding Vehicle LLC ("Parent"), are affiliated with Marlin Equity
III, L.P., Marlin Equity IV, L.P. and Marlin Management Company,
LLC (d/b/a Marlin Equity Partners).
On October 21, 2013, Marlin
announced that Parent, Purchaser and Tellabs had entered into a
definitive merger agreement pursuant to which the tender offer
would be made. Pursuant to the merger agreement, after completion
of the tender offer and the satisfaction or waiver of certain
conditions, Purchaser will merge with and into Tellabs, and all of
the then outstanding shares of Tellabs' common stock (other than
shares held by Tellabs, Parent, their respective wholly owned
subsidiaries, or Tellabs' stockholders who validly exercise
appraisal rights under Delaware
law with respect to such shares) will be automatically converted
into the right to receive cash equal to the $2.45 offer price per share, without
interest.
After careful consideration, the board of directors of Tellabs
unanimously approved the merger agreement and the transactions
contemplated thereby. Accordingly, the board of directors has
recommended that Tellabs stockholders tender their shares in the
tender offer.
Purchaser and Parent filed with the Securities and Exchange
Commission (the "SEC") today a tender offer statement on Schedule
TO, including an offer to purchase and related letter of
transmittal, setting forth in detail the terms and conditions of
the tender offer. Additionally, Tellabs has filed with the SEC a
solicitation/recommendation statement on Schedule 14D-9 setting
forth in detail, among other things, the recommendation of Tellabs'
board of directors that Tellabs' stockholders tender their shares
in the tender offer.
The completion of the tender offer is conditioned upon, among
other things, satisfaction of a minimum tender condition and other
closing conditions. The transaction is not subject to a financing
condition. The tender offer commenced today will expire at
11:59 p.m., New York City time, on December 2, 2013 unless the offer is extended in
accordance with its terms. Upon the successful completion of the
transaction, Tellabs will become a privately held company.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over
$2.6 billion of capital under
management. The firm is focused on providing corporate parents,
shareholders and other stakeholders with tailored solutions that
meet their business and liquidity needs. Marlin invests in
businesses across multiple industries where its capital base,
industry relationships and extensive network of operational
resources significantly strengthens a company's outlook and
enhances value. Since its inception, Marlin, through its group of
funds and related companies, has successfully completed over 70
acquisitions. The firm is headquartered in Los Angeles, California with an additional
office in London. For more
information, please visit www.marlinequity.com.
About Tellabs
Tellabs innovations advance smart networks and help its
customers succeed. That's why 80% of the top global communications
service providers and 40 of the Fortune 100 companies choose its
mobile backhaul, packet optical, Optical LAN and services
solutions. Tellabs helps them get ahead by adding revenue, reducing
expenses and optimizing networks.
Tellabs (Nasdaq: TLAB) is part of the Ocean Tomo 300™ Patent
Index and several corporate responsibility indexes including the
Maplecroft Climate Innovation Index, FTSE4Good and eight FTSE KLD
indexes. www.tellabs.com.
Forward-Looking Statements
This communication contains forward-looking statements.
Forward-looking statements include statements that are predictive
in nature, which depend upon or refer to future events or
conditions, which include words such as "believes," "plans,"
"anticipates," "estimates," "expects," "intends," "seeks" or
similar expressions. Forward-looking statements are based on
current expectations about future events and are subject to risks,
uncertainties and assumptions. You should not place undue reliance
on forward-looking statements, which are based on current
expectations, since, while Marlin believes the assumptions on which
the forward-looking statements are based are reasonable, there can
be no assurance that these forward-looking statements will prove
accurate. All forward-looking statements included in this
communication are made as of the date hereof and, unless otherwise
required by applicable law, Marlin undertakes no obligation to
publicly update any forward-looking statements, whether as a result
of new information, future events or otherwise.
Important Additional Information
This communication is neither an offer to purchase nor a
solicitation of an offer to sell any shares. This communication is
for informational purposes only. The tender offer is not being made
to, nor will tenders be accepted from, or on behalf of, holders of
shares in any jurisdiction in which the making of the tender offer
or the acceptance thereof would not comply with the laws of that
jurisdiction. Purchaser filed on November 1,
2013 with the SEC a tender offer statement on Schedule TO
and related exhibits, including an offer to purchase, a letter of
transmittal and other related documents. Following commencement of
the tender offer, Tellabs filed with the SEC a
solicitation/recommendation statement on Schedule 14D-9.
Stockholders should read those materials carefully because they
contain important information, including the various terms and
conditions of the tender offer. Stockholders of the Company may
obtain free copies of these documents, any amendments or
supplements thereto and other documents containing important
information about Tellabs through the website maintained by the SEC
at www.sec.gov.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at
pspasov@Marlininequity.com, or Dan
Burch or Jeanne Carr of
MacKenzie Partners at (212) 929-5748 or (212) 929-5916, or via
email at dburch@mackenziepartners.com or
jcarr@mackenziepartners.com.
SOURCE Marlin Equity Partners