ARI and GAMA continue evaluation of proposed merger.October 31, 2007 -
ARI and GAMA executive committees have instructed staff to engage outside legal and financial experts to conduct necessary due diligence reviews required and draft proposed merger documents. Their staffs have been meeting to review current operations and services for recommendation on how those can be combined in a merger. If the ARI Executive Committee approves this information prior to a board meeting in November, the ARI Board will review the merger documents.
ARI, GAMA Continue to Evaluate Proposed Merger |
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Air-Conditioning and Refrigeration Institute
4100 North Fairfax Drive, Suite 200
Arlington, VA, 22203
USA
Press release date: October 29, 2007
ARI and GAMA have agreed to continue the process of moving toward a merger of the two associations. The executive committees of both associations have instructed staff to engage outside legal and financial experts to conduct necessary due diligence reviews required and to draft proposed merger documents.
Work is proceeding on both tasks. In addition, both ARI and GAMA staffs have been meeting to review current operations and services and to provide recommendations on how these operations and services could be combined in a merged organization.
The current schedule calls for the ARI Executive Committee to review this information prior to the ARI Board meeting in November. If approved by the Executive Committee, the ARI Board will review the merger documents. The current schedule is for the Board to consider the proposed merger at its November meeting. Finally, if the Board recommends approval, ARI's members will review the merger documents and vote on the proposed merger. It is the current intent of the Study Group and the executive committees to make a decision on the proposed merger before the end of the year.
The executive committees, boards, and staff of both associations will continue to communicate with all members as they move forward in this process.
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