Wonder Holdings and Wonder Holdings Acquisition, both affiliates of H.I.G. Capital formed for the purpose of acquiring Matrixx Initiatives, have commenced a tender offer to acquire all of the outstanding shares of Matrixx’s common stock for USD8.00 per share in cash.
The aggregate value of the proposed transaction is approximately USD75.2m.
Upon the successful closing of the tender offer, shareholders of Matrixx will receive USD8.00 in cash for each share of the common stock of the company tendered in the offer, without interest and less any applicable withholding taxes.
Following completion of the tender offer, pursuant to the terms of the merger agreement Wonder Holdings will complete a second-step merger in which any remaining common shares of Matrixx will be converted into the right to receive the same per share price paid in the offer.
Completion of the transaction is subject to customary conditions.
The tender offer and withdrawal rights are scheduled to expire at 11:59pm, New York City time, on 24 January 2011, unless extended or earlier terminated.
Matrixx Initiatives is an over-the-counter healthcare company that develops and markets Zicam products. Zicam markets and sells products in the cough and cold category.
