SCOTTSDALE, Ariz., Jan. 24, 2011 /PRNewswire/ -- Matrixx Initiatives, Inc. (Nasdaq: MTXX) ("Matrixx" or the "Company"), an over-the-counter healthcare company that develops and markets Zicam® products, today announced the expiration of the go-shop period provided for in the previously announced merger agreement, dated as of December 14, 2010, by and among Matrixx, Wonder Holdings, Inc. ("Wonder") and Wonder Holdings Acquisition Corp. (the "Merger Agreement"), which contemplates the acquisition of Matrixx by Wonder Holdings, Inc., a corporation controlled by H.I.G. Capital LLC.
As previously summarized, during the go-shop period, which ended at 11:59 p.m., New York City time, on January 22, 2011, the Company's representatives actively, solicited alternative proposals to acquire Matrixx from strategic parties and financial sponsor firms. Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the go-shop period. Matrixx is now prohibited by the "no shop" provisions of the Merger Agreement from, among other things, encouraging or soliciting third-parties regarding alternative acquisition proposals.
The tender offer is scheduled to expire at 5:00 p.m., New York City time, on Monday, January 31, 2011, unless extended in accordance with the terms of the Merger Agreement and applicable law. The Company continues to recommend that stockholders tender their shares pursuant to the tender offer commenced by Wonder.
About Matrixx Initiatives, Inc.
Matrixx Initiatives, Inc. is an over-the-counter healthcare company that develops and markets Zicam® products. Zicam, LLC, its wholly-owned subsidiary, markets and sells Zicam® products in the cough and cold category. The Company markets Zicam brand pharmaceuticals, including Zicam Cold Remedy in multiple oral delivery for
|SOURCE Matrixx Initiatives, Inc.|
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