Cox Enterprises Completes Cox Radio Acquisition
May 29, 2009 at 2:49 PM (PT)
COX ENTERPRISES, INC., through wholly-owned subsidiary COX MEDIA GROUP, INC., has completed its acquisition of COX RADIO in a short-form merger in which COX RADIO became an indirect, wholly-owned subsidiary of COX ENTERPRISES after the completion of its tender offer, which expired on MAY 19th.
As a result of the merger, any outstanding shares of Class A common stock not purchased by COX ENTERPRISES/COX MEDIA GROUP in the tender offer, other than those as to which appraisal rights are perfected and shares owned by COX MEDIA GROUP or held by COX RADIO in treasury, were converted into the right to receive $4.80 per share in cash, without interest. Non-tendering shareholders will receive advisory materials from exchange agent AMERICAN STOCK TRANSFER AND TRUST CO. Trading in COX RADIO shares on the NEW YORK STOCK EXCHANGE will be suspended prior to the market opening on MONDAY (6/1).