CCC Information Services Group Inc. Stockholders Approve Merger Transaction
February 09 2006 - 9:31AM
Business Wire
CCC Information Services Group Inc. (Nasdaq:CCCG), a leading
supplier of advanced software, communications systems, Internet and
wireless-enabled technology solutions to the automotive claims and
collision repair industries, announced that, at a special meeting
held today, the Company's stockholders voted to adopt the merger
agreement with entities affiliated with Investcorp, a global
investment group. The merger is anticipated to be completed on
Friday, February 10, 2006, subject to the satisfaction of closing
conditions. The terms of the merger are governed by the Agreement
and Plan of Merger dated as of September 21, 2005 by and among CCC,
Cougar Holdings, Inc. and its wholly owned subsidiary, Cougar
Merger Sub, Inc. CCC common stockholders will be entitled to
receive $26.50 in cash, without interest for each share of common
stock in the merger. Holders of Series F Preferred Stock will be
entitled to receive $1.00 in cash, plus accrued and unpaid
dividends, if any, without interest, for each share of Series F
Preferred Stock in the merger. About CCC CCC Information Services
Group Inc. (NASDAQ:CCCG), headquartered in Chicago, is a leading
supplier of advanced software, communications systems, Internet and
wireless-enabled technology solutions to the automotive claims and
collision repair industries. Its technology-based products and
services optimize efficiency throughout the entire claims
management supply chain and facilitate communication among
approximately 21,000 collision repair facilities, 350 insurance
companies, and a range of industry participants. For more
information about CCC Information Services, visit CCC's Web site at
www.cccis.com. About Investcorp Investcorp is a global investment
group with offices in London, New York and Bahrain. The firm has
four lines of business: corporate investment, real estate
investment, asset management and technology investment. It was
established in 1982 and has since completed transactions with an
aggregate value of approximately $28 billion. In Europe, Investcorp
and its clients currently own corporate investments that include
Polyconcept, APCOA, Hilding Anders and Minimax. In the United
States, Investcorp and its clients currently own corporate
investments that include American Tire, Associated Materials and
SourceMedia. Further information is available at
www.investcorp.com. Certain statements in this communication,
including statements regarding the proposed merger, are
forward-looking and may involve a number of risks and
uncertainties. Certain factors that could cause actual events not
to occur as expressed in the forward-looking statements include,
but are not limited to, the failure to satisfy various conditions
contained in the merger agreement. Other risks and uncertainties
concerning CCC's performance are set forth in reports and documents
filed by CCC with the SEC from time to time. Please use caution in
placing reliance on forward-looking statements. CCC has based these
forward-looking statements on information currently available and
disclaims any intention or obligation to update or revise any
forward-looking statement.
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