Neiman Marcus 2012 Annual Report Download - page 137
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Table of Contents
NOTE 20. SUBSEQUENT EVENT
On September 9, 2013, we entered into an Agreement and Plan of Merger (the Merger Agreement) with NM Mariposa Holdings, Inc. and Mariposa
Merger Sub LLC, both of which are owned by an investment group consisting of investment funds affiliated with Ares Management LLC and Canada
Pension Plan Investment Board (collectively, our Future Sponsors). Under the Merger Agreement, we will be acquired for a purchase price based on a total
enterprise value of $6.0 billion (the Future Sponsors’ Acquisition). A portion of the purchase price will be used at closing to repay all amounts outstanding
under our existing senior secured credit facilities. The currently outstanding 7.125% Senior Debentures due 2028 are expected to remain outstanding
immediately following the closing of the transaction in accordance with the terms of the indenture governing such debentures. Consummation of the merger is
subject to various conditions, including (i) the absence of a material adverse effect on the Company, as defined in the Merger Agreement, (ii) the expiration or
termination of any applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 (which has now occurred) and (iii) the
completion of the marketing period related to financing of the Future Sponsors’ Acquisition as provided for under the Merger Agreement. We currently
anticipate the closing date for the Future Sponsors’ Acquisition to occur in October or November 2013.
F-42