Tollgrade Shareholders Approve Merger
May 06 2011 - 3:40PM
Tollgrade Communications, Inc. ("Tollgrade" or the "Company")
(Nasdaq:TLGD) today announced that at a special meeting held on May
5, 2011, its shareholders approved a definitive merger agreement
with affiliates of Golden Gate Capital.
Under the terms of the merger agreement, upon the closing of the
transaction contemplated by the merger agreement, each shareholder
will receive $10.10 in cash per share. Pending satisfaction of
other customary closing conditions, the transaction is expected to
close in the next week, at which time Tollgrade's common stock will
cease trading.
About Tollgrade
Tollgrade Communications, Inc. is a leading provider of network
assurance solutions for the telecommunications and utilities
industries. Tollgrade's telecommunication products and solutions
enable communication service providers to efficiently manage their
access networks in an age of increased competition, continually
evolving technology, and ongoing pressure to reduce costs while its
real-time Smart Grid Monitoring solutions allow utility customers
to continuously detect key circuit parameters, and communicate
mission critical data wirelessly to a central location to provide
Continuous Grid Intelligence™. For more information, visit
Tollgrade online at www.tollgrade.com.
The Tollgrade Communications, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7127
Forward-looking Statements
This press release contains forward-looking statements.
Statements that are not historical facts, including statements
about beliefs or expectations, are forward-looking statements.
These statements are based on plans, estimates and projections at
the time the Company makes the statements and readers should not
place undue reliance on them. Forward-looking statements involve
certain risks and uncertainties that could cause actual results to
differ materially from those described in such statements,
including the risk that the proposed merger does not occur, the
expected timing of the completion of the merger, the ability of the
parties to satisfy the conditions to closing of the merger and
other risks as identified in the Company's various filings made
with the SEC periodically, particularly its most recent Annual
Report on Form 10-K, which contains and identifies important
factors that could cause the actual results to differ materially
from those contained in the forward-looking statements. The
Company assumes no obligation to update any forward-looking
statement contained in this document.
CONTACT: Greg Nulty, Corporate Communications / Office: 724 720 1465
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