Ames True Temper, Inc. Expresses No Opinion on Debt Tender Offer by Clopay Acquisition Corp.
CAMP HILL, Pa., Aug. 11 - Ames True Temper, Inc. ("ATT") today announced that it elected to express no opinion and remain neutral toward (i) the offers by Clopay Acquisition Corp. ("Clopay") on August 3, 2010 to purchase any and all of ATT's outstanding 10% Senior Subordinated Notes due 2012 and Senior Floating Rate Notes due 2012 and (ii) the related consent solicitations. The tender offers and related consent solicitations are being conducted in connection with Clopay's previously announced agreement to acquire all the outstanding common stock of CHATT Holdings Inc., ATT's indirect parent (the "Transaction").
ATT believes that each noteholder should make its decision as to whether to tender on an individual rather than a collective basis, based on that noteholder's particular circumstances. ATT further believes the determination whether to tender is a financial decision to be made by each noteholder, in consultation with the noteholder's financial advisor, based on the terms of the offers being made by Clopay. For these reasons, ATT believes that it is not appropriate for it to make a recommendation to noteholders regarding the tender of their notes and expresses no opinion as to the course of action that noteholders should take.
The announcements contained in this press release were made pursuant to Rule 14e-2 under the Securities Exchange Act of 1934.
Source: Ames True Temper, Inc.
Contact:
Dave Nuti,
Ames True Temper, Inc.,
+1-717-730-2933,
investor@amestruetemper.com
Web Site: http://www.amestruetemper.com/
