Hennessy Capital Acquisition (HCAC) Reports Termination of Merger Agreement with USI
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Hennessy Capital Acquisition Corp. II (NASDAQ: HCAC) announced today that the Company and USI Senior Holdings, Inc. (“USI”) have mutually agreed to terminate the Company’s definitive merger agreement to acquire all of the outstanding capital stock of USI, which, through its subsidiaries, conducts its business under the “USI” name. The termination of the merger agreement is effective as of October 4, 2016.
“While we are disappointed by the outcome with USI, we remain highly optimistic and enthusiastic about potential acquisition opportunities in our pipeline,” said Daniel J. Hennessy, the Company’s Chairman and Chief Executive Officer. “The HCAC management team is already actively engaged in evaluating and pursuing other potential business combination opportunities consistent with our stated investment strategy.”
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