EDS Extends Exchange Offer for its FELINE PRIDES to 1:00 P.M. (ET) Today
May 12 2004 - 8:06AM
PR Newswire (US)
EDS Extends Exchange Offer for its FELINE PRIDES to 1:00 P.M. (ET)
Today PLANO, Texas, May 12 /PRNewswire-FirstCall/ -- EDS has
extended to 1:00 p.m. (ET) today, unless further extended, its
offer to exchange up to 32,100,000 of its FELINE PRIDES in the form
of Income PRIDES for 0.8430 shares of EDS common stock plus $1.58
in cash for each validly tendered and accepted Income PRIDES. The
exchange offer was due to expire at midnight (ET) yesterday, May
11, 2004. The condition to the exchange offer that the registration
statement to register the shares of EDS common stock to be issued
in the exchange offer be declared effective by the Securities and
Exchange Commission was satisfied on Tuesday, May 11, 2004. EDS
will provide additional financial information on a Form 8K to be
filed this morning to conform its year-end 2001, 2002 and 2003
consolidated financial statements to the presentation of UGS PLM
Solutions in the company's first quarter Form 10-Q as discontinued
operations. If the remaining conditions to the exchange offer are
satisfied, EDS intends to accept tendered Income PRIDES so that
tendering holders will be record holders of common stock by the
close of business on May 14, 2004, which is the record date for the
dividend payment on June 10, 2004, of $0.15 per share of EDS common
stock. EDS has been advised by the exchange agent that as of 6:00
p.m. (ET), May 11, 2004, approximately 28,141,845 Income PRIDES, or
about 87.4% of the 32,200,000 outstanding Income PRIDES, had been
tendered. Holders who have validly tendered their Income PRIDES
need take no further action. Other holders who want to tender their
Income PRIDES must do so by no later than 1:00 p.m. (ET), today,
when the exchange offer will expire, unless further extended by
EDS. Tendered Income PRIDES may be withdrawn at any time prior to
the time the offer expires. This announcement shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the EDS common stock in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. Merrill
Lynch & Co., Inc. and Citigroup Global Markets Inc. are acting
as co-lead dealer managers, Mellon Investor Services LLC is the
information agent, and JPMorgan Chase Bank is the exchange agent
for the offer. Copies of the registration statement, exchange offer
prospectus, letter of transmittal and other materials related to
the exchange offer may be obtained at no charge from the
information agent at 866-293-6625 or from the Securities and
Exchange Commission's Web site at http://www.sec.gov/. Additional
information concerning the terms of the exchange offer, including
all questions relating to the mechanics of the offer, may be
obtained by contacting the information agent at 866-293- 6625 or
Merrill Lynch at 888-654-8637 (toll-free) or Citigroup at
877-531-8365 (toll-free). The materials related to the exchange
offer contain important information that should be read carefully
before any decision is made with respect to the exchange offer.
Sean Healy EDS Media Relations +1-212-610-8173
http://www.newscom.com/cgi-bin/prnh/20011004/EDSLOGO-b
http://photoarchive.ap.org/ DATASOURCE: Electronic Data Systems
Corporation CONTACT: Sean Healy, EDS Media Relations,
+1-212-610-8173, or Web site: http://www.eds.com/
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