Anderson Family Proposes Transaction to Acquire 100% of Public Interest in Books-A-Million, Inc.
January 29 2015 - 9:22PM
Business Wire
Books-A-Million, Inc. (NASDAQ:BAMM) On January 29, 2015,
Books-A-Million, Inc. announced the receipt of a non-binding
proposal from Clyde B. Anderson, Executive Chairman of the Company,
on behalf of the Anderson family, to acquire certain outstanding
shares of the common stock of Books-A-Million, Inc., at a cash
purchase price of $2.75 per share. In the proposed potential
transaction, the Anderson family would acquire all of the
outstanding shares of common stock of the Company not currently
owned by the Anderson family through a merger of the Company with a
newly formed acquisition vehicle that the Anderson family would
control. The Company intends to promptly review the proposal.
A copy of Mr. Anderson’s letter to the Board is attached as
exhibit number 99.18 to Amendment No. 16 to the Anderson family’s
Schedule 13D/A, which was filed with the Securities and Exchange
Commission (“SEC”) today. This Amendment is available at no charge
on the SEC’s website at www.sec.gov.
ABOUT BOOKS-A-MILLION, INC.
Books-A-Million, Inc. is one of the nation’s leading book
retailers and sells on the Internet at www.booksamillion.com. The
Company presently operates 256 stores in 33 states and the District
of Columbia. The Company operates large superstores under the names
Books-A-Million (BAM!), Books & Co. and 2nd & Charles and
traditional bookstores operating under the names Bookland and
Books-A-Million. Also included in the Company’s retail operations
is the operation of Yogurt Mountain Holding, LLC, a retailer and
franchisor of self-serve frozen yogurt stores with 43 locations.
The Company also develops and manages commercial real estate
investments through its subsidiary, Preferred Growth Properties.
The common stock of Books-A-Million, Inc. is traded on the NASDAQ
Global Select Market under the symbol BAMM. For more information,
visit the Company’s corporate website at
www.booksamillioninc.com.
Follow Books-A-Million on Twitter
(http://twitter.com/booksamillion) and like us on Facebook
(http://facebook.com/booksamillion).
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995:
This document contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. A number of
factors could cause actual results, performance, achievements of
the Company or industry results to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These factors include, but are not
limited to, the competitive environment in the book retail industry
in general and in the Company's specific market area; inflation;
economic conditions in general and in the Company's specific market
areas; the number of store openings and closings; the profitability
of certain product lines, capital expenditures and future
liquidity; liability and other claims asserted against the Company;
uncertainties related to the Internet and the Company's Internet
initiative; and the impact of the availability of e-content and the
e-reader market. In addition, such forward-looking statements are
necessarily dependent upon assumptions, estimates and dates that
may be incorrect or imprecise and involve known and unknown risks,
uncertainties and other factors. Accordingly, any forward-looking
statements included herein do not purport to be predictions of
future events or circumstances and may not be realized. Given these
uncertainties, stockholders and prospective investors are cautioned
not to place undue reliance on such forward-looking statements.
Please refer to the Company’s annual, quarterly and periodic
reports on file with the SEC for a more detailed discussion of
these and other risks that could cause results to differ
materially. The Company disclaims any obligations to update any
such factors or to publicly announce the results of any revisions
to any of the forward-looking statements contained herein to
reflect future events or developments.
Books-A-Million, Inc.R. Todd Noden, 205-942-3737 ext. 4808Chief
Financial Officer