Superior Consultant (NASDAQ:SUPC)
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ACS Completes Cash Tender Offer for Shares of Superior Consultant
Holdings Corporation
DALLAS, Jan. 25 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc.,
(NYSE:ACS), a premier provider of business process and information technology
outsourcing solutions, announced today the successful completion of the cash
tender offer by its wholly owned subsidiary, ACS Merger Corp., for all of the
shares of common stock of Superior Consultant Holdings Corporation
(NASDAQ:SUPC), a leading provider of information technology (IT) consulting
services and solutions to the healthcare industry, at a price of $8.50 per
share.
The offer expired, as scheduled, at 12:00 midnight (New York City time) on
Monday, January 24, 2005.
ACS has been advised by Mellon Investor Services LLC, the depositary for the
tender offer, that as of the expiration of the offer, 10,462,622 shares
representing approximately 99% of Superior's issued and outstanding common
stock had been tendered and not withdrawn (including approximately 33,697
shares tendered by guaranteed delivery). All validly tendered shares have been
accepted for purchase in accordance with the terms of the tender offer.
ACS intends to complete the acquisition of Superior through a short form merger
of ACS Merger Corp. with and into Superior on or about January 28, 2005. As a
result of the merger, all outstanding shares of Superior common stock not
purchased by ACS Merger Corp. in the tender offer will be converted into the
right to receive $8.50 per share, without interest.
Established in 1984, Superior provides IT consulting services and solutions to
the healthcare industry, including IT and business process outsourcing
services, facilities and applications management, network monitoring, and
helpdesk services. The company's clients include hospitals and health systems,
integrated delivery networks, and other providers of care, technology firms,
health plans, and state and federal government agencies. Superior employs more
than 700 experienced healthcare professionals and is headquartered in Dearborn,
Michigan. The company also has offices in California, Connecticut,
Pennsylvania, and has served approximately 3,000 clients worldwide throughout
its 20-year history.
ACS, a FORTUNE 500 company with more than 43,000 people supporting client
operations in nearly 100 countries, provides business process and information
technology outsourcing solutions to world-class commercial and government
clients. The company's Class A common stock trades on the New York Stock
Exchange under the symbol "ACS". ACS makes technology work. Visit ACS on the
Internet at http://www.acs-inc.com/ .
The statements in this news release that do not directly relate to the
historical facts constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements are
subject to numerous risks and uncertainties, many of which are outside the
Company's control. As such, no assurance can be given that the actual events
and results will not be materially different than the anticipated results
described in the forward-looking statements. Factors could cause actual
results to differ materially from such forward-looking statements. For a
description of these factors, see the Company's prior filings with the
Securities and Exchange Commission, including the most recent Form 10-Q. ACS
disclaims any intention or obligation to revise any forward-looking statements,
whether as a result of new information, future event, or otherwise.
DATASOURCE: ACS, Inc.
CONTACT: investors, Warren Edwards, Executive Vice President-Chief
Financial Officer, +1-214-841-8082, or , or media,
Lesley Pool, Senior Vice President-Chief Marketing Officer, +1-214-841-8028,
or , both of Affiliated Computer Services, Inc.
Web site: http://www.acs-inc.com/