Acquisition of Enterasys Networks Completed
Shareholders to receive $13.92 in cash per common share
+1 978 684 1525
Andover, MA — Mar 1, 2006
Enterasys Networks, Inc. (NYSE: ETS), the Secure Networks Company, today announced the completion of the acquisition of the Company by a group of private investors led by The Gores Group, LLC and Tennenbaum Capital Partners, LLC. Under the terms of the merger agreement, which was approved by Enterasys shareholders on February 16, each outstanding share of Enterasys common stock was converted into the right to receive $13.92 in cash. Enterasys common stock will no longer be publicly traded following the close of trading today.
The Company has appointed Computershare Trust Company as its paying agent. Within approximately five days, the paying agent will distribute letters of transmittal and instructions to shareholders of record, which will tell them how to surrender their stock in exchange for the merger consideration. Shareholders should expect payment for their shares within approximately 10 business days after the paying agent receives properly completed letters of transmittal and required accompanying documentation. Questions and correspondence related to the transaction should be directed to Computershare at 1-800-254-5196 (U.S. shareholders) or 1-781-575-3839 (brokers and shareholders outside of the U.S.).
About Enterasys Networks
Enterasys Networks is the Secure Networks Company, providing enterprise customers with innovative network infrastructure products, services and solutions that deliver the security, productivity and adaptability benefits required by Global 2000 organizations. For more information on Enterasys Secure Networks and the company's products, including multilayer switches, core routers, WAN routers, wireless LANs, network management, and intrusion defense systems, visit enterasys.com.
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