Zones Completes Going-Private Transaction
December 31 2008 - 3:01AM
Marketwired
Zones, Inc. (NASDAQ: ZONS) today announced the completion of its
acquisition by Firoz Lalji, its Chief Executive Officer, Chairman
of the Board and majority shareholder, and certain of his related
parties in a going-private transaction.
Under the terms of the merger agreement for the going-private
transaction, which was adopted by Zones' shareholders at a special
meeting held on December 19, 2008, Zones shareholders (other than
Mr. Lalji, certain of his related parties and dissenting
shareholders) are entitled to receive $7.00 in cash, without
interest and less any applicable withholding taxes, for each share
of common stock they owned immediately prior to the effective time
of the merger. Zones common stock will be delisted from the NASDAQ
Global Market.
Shareholders of record will receive a letter of transmittal and
instructions on how to surrender their shares of Zones common stock
in exchange for the merger consideration. Shareholders of record
should wait to receive the letter of transmittal before
surrendering their shares.
About Zones, Inc.
Zones, Inc. is a single-source direct marketing reseller of
name-brand information technology products to the
small-to-medium-sized business market, enterprise accounts and
public sector accounts. Zones sells these products through outbound
and inbound account executives, a national field sales force,
catalogs and the Internet. Zones offers more than 150,000 products
from leading manufacturers including Adobe, Apple, Avaya, Cisco,
HP, IBM, Kingston, Lenovo, Microsoft, NEC, Nortel Networks, Sony,
Symantec and Toshiba.
Incorporated in 1988, Zones, Inc. is headquartered in Auburn,
Washington. Buying information is available at
http://www.zones.com, or by calling 800-258-2088. The Company's
investor relations information can be accessed online at
www.zones.com/IR.
Contact: Ronald McFadden Zones, Inc. Chief Financial Officer
253-205-3000
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