Says Current Board is 'Best Suited' to Conclude Merger and Manage Company
Company Announces Expiration of Hart-Scott-Rodino Waiting Period
READING, Pa., Sept. 10 /PRNewswire-FirstCall/ -- Arrow International, Inc. (Nasdaq: ARRO), a leading global provider of catheter-based access and therapeutic products for critical and cardiac care, reported that Glass, Lewis & Co., a leading proxy advisory firm, is advising its clients to approve Arrow's planned $45.50 merger with Teleflex Incorporated (NYSE: TFX) and vote on the WHITE proxy card to adopt the merger agreement and in favor of all of Arrow's director nominees at Arrow's upcoming Annual Meeting on September 20, 2007. Shareholders of record on August 7, 2007 are entitled to vote in person or by proxy at the Meeting.
In its recommendation dated September 7, 2007, Glass, Lewis stated, "We make this recommendation knowing that the current directors have shown great resolve to act in shareholder's interests during a period of executive and director turnover. In our opinion, we believe that the incumbent directors are best suited to manage the agreement to closure or to oversee the business in the case that the agreement is not approved by shareholders."*
R. James Macaleer, Chairman of the Board of Arrow International, Inc. said, "We are pleased that Glass, Lewis has advised its clients who are Arrow shareholders to vote for the $45.50 per share Teleflex merger and to support the election of the current Arrow Board. We encourage all shareholders to sign and return their WHITE proxy card today and to ignore the blue proxy cards from the McNeil Trust."
Arrow also announced the expiration of the waiting period required
under the Hart-Scott-Rodino
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