EXHIBIT (A)(15)
Published on December 11, 2009
Exhibit (a)(15)
EMERSON COMPLETES TENDER OFFER FOR
AVOCENT
ST. LOUIS, MO, December 11, 2009 --
Emerson (NYSE: EMR) announced today that it has successfully completed
its tender offer for all of the outstanding shares of common stock of Avocent
Corporation (NASDAQ: AVCT). The offer expired at 5 p.m. EST on Thursday,
December 10, 2009. A total of approximately 43.2 million shares of Avocent
common stock were tendered, representing approximately 97% of Avocent’s
outstanding shares, including approximately 2.5 million shares tendered pursuant
to a notice of guaranteed delivery. All shares validly tendered and not
withdrawn have been accepted for payment by Emerson.
Emerson
expects to effect a short-form merger under Delaware law to complete the Avocent
acquisition. As a result of the merger, each of the remaining outstanding shares
of Avocent’s common stock (other than any shares owned by Avocent, Emerson, or
Emerson’s subsidiaries or any shares whose holders properly exercise their
appraisal rights) will be converted into the right to receive the same $25.00 in
cash per share, without interest, less certain applicable taxes, that was paid
in the tender offer. Upon completion of the merger, Avocent will become a wholly
owned subsidiary of Emerson, and Avocent’s common stock will cease to be traded
on the NASDAQ Stock Market.
Once
completed, the merger with Avocent will enable Emerson and its Emerson Network
Power business to deliver a more robust portfolio of data center infrastructure
management solutions. Combining Avocent’s ability to access and control the
physical aspects of network devices and servers in the rack with Emerson’s power
systems and precision cooling solutions in the room will create a unique
infrastructure management solution for data center managers and help them
address their most pressing challenge – energy efficiency.
About
Emerson
Emerson
(NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing
technology and engineering together to provide innovative solutions to customers
through its network power, process management, industrial automation, climate
technologies, and appliance and tools businesses. Emerson’s sales in fiscal 2009
were $20.9 billion. Emerson is ranked 94th on the Fortune 500 list of America’s
largest companies. For more information, visit www.Emerson.com.
|
Contact:
|
Mark
Polzin (314) 982-1758
|
|
or
William Walkowiak (314) 982-8622
|