Coach, Inc. (NYSE:COH) (SEHK:6388), a leading New York design
house of modern luxury accessories and lifestyle brands (“Coach”),
announced today that its wholly owned direct subsidiary, Chelsea
Merger Sub Inc. (“Purchaser”), has extended the expiration of its
previously announced tender offer to purchase all of the
outstanding shares of common stock, par value $1.00 per share, of
Kate Spade & Company, a Delaware corporation (the “Shares”), at
a price of $18.50 per share, net to the seller in cash, without
interest thereon and less any applicable withholding taxes (the
“Offer”) until 5:00 p.m., New York City time, on July 10, 2017,
unless further extended or earlier terminated. The Offer was
previously scheduled to expire at 11:59 p.m., New York City time,
on June 23, 2017.
The depositary for the Offer has advised Coach and Purchaser
that, as of 5:00 p.m., New York City time, on June 22, 2017,
19,310,859 Shares have been validly tendered pursuant to the Offer
and not properly withdrawn.
The Offer has been extended to allow additional time for the
expiration or termination of the waiting period under the Japanese
Act on Prohibition of Private Monopolization and Maintenance of
Fair Trade (Act No. 54 of April 14, 1947, as amended), which is
expected to expire on July 2, 2017. All other terms and conditions
of the Offer remain unchanged.
Broadridge Corporate Issuer Solutions, Inc., is the Information
Agent, depositary and paying agent for the tender offer. Requests
for documents and questions may be directed to the Information
Agent at 888-808-3038.
About Coach
Coach, Inc. is a leading New York design house of modern luxury
accessories and lifestyle brands. The Coach brand was established
in New York City in 1941, and has a rich heritage of pairing
exceptional leathers and materials with innovative design. Coach is
sold worldwide through Coach stores, select department stores and
specialty stores, and through Coach’s website at www.coach.com. In
2015, Coach acquired Stuart Weitzman, a global leader in designer
footwear, sold in more than 70 countries and through its website at
www.stuartweitzman.com. Coach, Inc.’s common stock is traded on the
New York Stock Exchange under the symbol COH and Coach’s Hong Kong
Depositary Receipts are traded on The Stock Exchange of Hong Kong
Limited under the symbol 6388.
Neither the Hong Kong Depositary Receipts nor the Hong Kong
Depositary Shares evidenced thereby have been or will be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to,
or for the account of, a U.S. Person (within the meaning of
Regulation S under the Securities Act), absent registration or an
applicable exemption from the registration requirements. Hedging
transactions involving these securities may not be conducted unless
in compliance with the Securities Act.
Additional Information and Where You Can Find It
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to
sell, securities, nor is it a substitute for the tender offer
materials filed with the U.S. Securities and Exchange Commission
(“SEC”). INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE TENDER
OFFER STATEMENT AND RELATED MATERIALS (INCLUDING THE OFFER TO
PURCHASE, RELATED LETTER OF TRANSMITTAL AND OTHER TENDER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT CAREFULLY
AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION
ABOUT THE TENDER OFFER THAT SHOULD BE READ PRIOR TO MAKING A
DECISION TO TENDER SHARES. These materials have been sent free of
charge to all Kate Spade & Company stockholders of record as of
May 22, 2017. In addition, all of those materials (and all other
tender offer documents filed or furnished by Kate Spade &
Company or Coach, Inc. or any of its subsidiaries with the SEC) are
available at no charge from the SEC through its website at
www.sec.gov. The Schedule TO (including the offer to purchase and
related materials) and the Schedule 14D-9 (including the
solicitation/recommendation statement) may also be obtained for
free by contacting Broadridge Corporate Issuer Solutions, Inc., the
information agent, depositary and paying agent for the tender
offer, at 888-808-3038.
In addition to the offer to purchase, the related letter of
transmittal and certain other tender offer documents, as well as
the solicitation/recommendation statement, Coach, Inc. and Kate
Spade & Company file annual, quarterly and current reports and
other information with the SEC. You may read and copy any reports
or other information filed by Coach, Inc. or Kate Spade &
Company at the SEC public reference room at 100 F Street, N.E.,
Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
further information on the public reference room. Coach, Inc.’s and
Kate Spade & Company’s filings with the SEC are also available
to the public from commercial document-retrieval services and at
the SEC’s website at www.sec.gov.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain “forward-looking statements”
within the meaning of the federal securities laws. In this context,
forward-looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as “expect,” “anticipate,” “intend,” “plan,”
“believe,” “seek,” “see,” “will,” “would,” “target,” similar
expressions, and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
consummation of the proposed transaction and the anticipated
benefits thereof. Such statements involve risks, uncertainties and
assumptions. If such risks or uncertainties materialize or such
assumptions prove incorrect, the results of Coach, Inc. and its
consolidated subsidiaries could differ materially from those
expressed or implied by such forward-looking statements and
assumptions. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements. Risks, uncertainties and assumptions include the
possibility that expected benefits may not materialize as expected;
that the merger may not be timely completed, if at all; that, prior
to the completion of the transaction, Kate Spade & Company’s
business may not perform as expected due to transaction-related
uncertainty or other factors; that the parties are unable to
successfully implement integration strategies; and other risks that
are described in Coach, Inc.’s latest Annual Report on Form 10-K
and its other filings with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170623005108/en/
CoachAnalysts & Media:Andrea Shaw Resnick,
212-629-2618Global Head of Investor Relations and Corporate
CommunicationsAResnick@coach.comorChristina Colone,
212-946-7252Senior Director, Investor
RelationsCColone@coach.com
Tapestry (NYSE:TPR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tapestry (NYSE:TPR)
Historical Stock Chart
From Apr 2023 to Apr 2024