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IKON launches tender offer, consent solicitation for 7¾% notes
By Angela McDaniels
Tacoma, Wash., Oct. 29 - IKON Office Solutions, Inc. has begun a cash tender offer to purchase any and all of its 7¾% notes due 2015, according to a company news release.
The company is also soliciting consents to amend the indenture governing the notes.
The consent payment deadline is 5 p.m. ET on Nov. 12, and the tender offer will end at midnight ET on Nov. 26.
The purchase price for the notes and the consent fee were not disclosed in the release.
The tender offer is conditioned on the successful completion of Ricoh Co., Ltd.'s pending acquisition of the company for $17.25 per share. The merger was approved by the board of directors of each company and will be voted on by IKON shareholders Oct. 31.
Wachovia Securities (866 309-6316 or 704 715-8341) is dealer manager and solicitation agent, and D.F. King & Co., Inc. (800 758-5378 or 212 269-5550) is the information agent.
IKON is a Malvern, Pa.-based maker of document management systems and services. Ricoh is a Tokyo-based digital office solutions provider.
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