Todhunter (AMEX:RUM)
Historical Stock Chart
From Jun 2019 to Jun 2024
Cruzan International, Inc. (AMEX:RUM) ("Cruzan"),
producer and distributor of the Cruzan line of rums from the Virgin
Islands and a leading distiller of rum and brandy, and importer and
marketer of premium branded spirits, announced today that Cruzan's
stockholders have voted to adopt the merger agreement under which The
Absolut Spirits Company, Incorporated ("ASCI") will acquire Cruzan. At
a Special Meeting held today, shares representing approximately 95.9%
of Cruzan's stock, including 88.5% of the shares not affiliated with
ASCI and its affiliates, approved the merger agreement. Cruzan, ASCI
and Cruzan Acquisition, Inc., a special purpose subsidiary of ASCI
formed for purposes of the merger, entered into a definitive agreement
on September 30, 2005, pursuant to which ASCI agreed to pay $28.37 in
cash for each issued and outstanding share of Cruzan's common stock
not owned by ASCI. The parties expect to complete the transaction on
or about March 22, 2006.
Details of the exchange procedures, including letters of
transmittal, will be sent to stockholders after closing.
Cruzan International, Inc. is a major supplier of rum, brandy and
wine to the beverage alcohol industry. The Company also produces
ultra-premium single-barrel aged rums and tropical rums, vinegar and
other alcohol-related products.
Statements contained in this press release, other than historical
facts, are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
and Exchange Act of 1934. Cruzan intends that such forward-looking
statements shall be subject to the safe harbors created thereby. These
statements involve various risks and uncertainties, including without
limitation those contained in the section entitled "Risks that May
Affect Future Results" in Item 7, "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in Cruzan's
Annual Report on Form 10-K for the fiscal year ended September 30,
2005. As a result, future results may differ materially from the
expected results represented by the forward looking-statements
contained in this press release.