Arrow International (ARRO) Files and Mails Definitive Proxy Materials
Arrow International, Inc. (Nasdaq: ARRO) has filed with the Securities and Exchange Commission and mailed to Arrow shareholders definitive proxy materials in connection with the Company's 2007 Annual Meeting of Shareholders. At the Annual Meeting, Arrow shareholders will consider and vote on, among other things, the adoption of the Company's merger agreement with Teleflex Incorporated, the election of directors to serve until the earlier of closing of the merger with Teleflex or until their respective successors are duly elected and qualified, and ratification of the appointment of PricewaterhouseCoopers LLP as the registered independent accounting firm.
As previously announced on July 23, 2007, Teleflex Incorporated and Arrow entered into a definitive merger agreement, which was unanimously approved by both companies' boards of directors and provides a payment to Arrow shareholders of $45.50 per share in cash without interest for each outstanding share of their Arrow common stock, representing a premium to shareholders of approximately 38.6% over the closing price of Arrow common stock on May 8, 2007, the last full trading day before the announcement of the Company's decision to explore strategic alternatives.
The Arrow Board of Directors unanimously recommends that shareholders vote "FOR" the adoption of the merger agreement, "FOR" the election of each Arrow nominee for director, and "FOR" the ratification of the appointment of PricewaterhouseCoopers LLP.
The McNeil Trust, owners of approximately 10% of Arrow common stock, has stated in a preliminary proxy filed with the Securities and Exchange Commission that it intends to vote "FOR" the proposal to adopt the Teleflex merger agreement.
As previously announced on July 23, 2007, Teleflex Incorporated and Arrow entered into a definitive merger agreement, which was unanimously approved by both companies' boards of directors and provides a payment to Arrow shareholders of $45.50 per share in cash without interest for each outstanding share of their Arrow common stock, representing a premium to shareholders of approximately 38.6% over the closing price of Arrow common stock on May 8, 2007, the last full trading day before the announcement of the Company's decision to explore strategic alternatives.
The Arrow Board of Directors unanimously recommends that shareholders vote "FOR" the adoption of the merger agreement, "FOR" the election of each Arrow nominee for director, and "FOR" the ratification of the appointment of PricewaterhouseCoopers LLP.
The McNeil Trust, owners of approximately 10% of Arrow common stock, has stated in a preliminary proxy filed with the Securities and Exchange Commission that it intends to vote "FOR" the proposal to adopt the Teleflex merger agreement.
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