Quinpario Acquisition Corp. and Jason Incorporated Receive U.S. Antitrust Clearance in Regard to Pending Acquisition
April 03 2014 - 5:38PM
Quinpario Acquisition Corp. (Nasdaq:QPAC) (Nasdaq:QPACU)
(Nasdaq:QPACW) ("Quinpario") and Jason Incorporated today announced
that their request for early termination of the required waiting
period with respect to filings made under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended ("HSR Act"), in
connection with the previously announced proposed business
combination has been granted. Quinpario announced a definitive
agreement to acquire Jason Incorporated on March 17, 2014.
The early termination of the HSR Act waiting period satisfies
one of the conditions to the closing of the pending acquisition.
The closing of the transaction is expected to be completed in the
second quarter of 2014, pending shareholder approval, and remains
subject to other customary closing conditions.
About Quinpario Acquisition Corp.
Quinpario is a special purpose acquisition company that
completed its initial public offering in August 2013. Quinpario was
formed for the purpose of acquiring one or more businesses through
a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination.
Quinpario Partners I, LLC, which was formed for the expressed
purpose of acting as the sponsor for Quinpario's initial public
offering, is an affiliate of Quinpario Partners LLC, an investment
and operating company formed by Jeffry N. Quinn, former chairman,
president and chief executive officer of Solutia Inc. For more
information, please visit www.quinpario.com.
About Jason Incorporated
Jason Incorporated is parent company to a global family of
manufacturing leaders within the seating, finishing, components and
automotive acoustics markets, including Assembled Products (Buffalo
Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex
(Libertyville, Ill.), Milsco (Milwaukee, Wis.), Morton
Manufacturing (Libertyville, Ill.), Osborn (Cleveland, Ohio and
Burgwald, Germany) and Sealeze (Richmond, Va.). All Jason companies
utilize the Jason Business System, a collaborative manufacturing
strategy applicable to a diverse group of companies that includes
business principles and processes to ensure best-in-class results
and collective strength. Headquartered in Milwaukee, Wis.,
Jason employs more than 4,000 individuals in 15 countries. To learn
more, visit www.jasoninc.com.
Participants in the Solicitation
Quinpario and its directors and officers may be deemed
participants in the solicitation of proxies to Quinpario's
stockholders with respect to the acquisition of Jason Incorporated.
A list of the names of those directors and officers and a
description of their interests in Quinpario is contained in
Quinpario's annual report on Form 10-K for the fiscal year ended
December 31, 2013, which was filed with the Securities and Exchange
Commission, and will also be contained in the proxy statement for
the proposed business combination when available. Information about
Jason Incorporated and Jason Incorporated's officers and directors
will also be included therein.
Additional Information About The Transaction And Where
To Find It
The proposed business combination will be submitted to
shareholders of Quinpario for their
consideration. Shareholders are urged to read the definitive
proxy statement regarding the proposed business combination when it
becomes available because it will contain important information for
Quinpario's shareholders to consider. Shareholders will be able to
obtain a free copy of the proxy statement as well as other filings
containing information about Quinpario and the business
combination, without charge, at the Securities Exchange
Commission's ("SEC") Internet site (www.sec.gov). You will also be
able to obtain these documents, free of charge, by accessing the
Quinpario website (www.quinpario.com).
Copies of the proxy statement and other filings with the SEC
that will be incorporated by reference in the proxy statement can
also be obtained, without charge, by directing a request to Paul J.
Berra III, Vice President, General Counsel and Secretary, 12935 N.
Forty Drive, St. Louis, Missouri 63141.
Forward-looking Statements
This news release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this news release that address activities, events or
developments that Quinpario expects or anticipates will or may
occur in the future are forward-looking statements. These
statements are based on certain assumptions and analyses made by
Quinpario in light of its experience and its perception of
historical trends, current conditions and expected future
developments as well as other factors it believes are appropriate
in the circumstances. However, whether actual results and
developments will conform with Quinpario's expectations and
predictions is subject to a number of risks and uncertainties,
including, but not limited to the following: changes in general
economic, market or business conditions; the opportunities (or lack
thereof) that may be presented to and pursued by Quinpario changes
in laws or regulations; and other factors, many of which are beyond
the control of Quinpario. Information concerning these and other
factors can be found in Quinpario's filings with the Securities and
Exchange Commission. Consequently, all of the forward-looking
statements made in this news release are qualified by these
cautionary statements and there can be no assurances that the
actual results or developments anticipated by Quinpario will be
realized, or even if realized, that they will have the expected
consequences to or effects on Quinpario or its business or
operations. We have no intention, and disclaim any obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise.
CONTACT: Melissa H. Zona
+1 (636) 751-4057
mhzona@quinpario.com
Stacey Stark
+1 (414) 248-3626
sstark@jasoninc.com
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