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|Saks Incorporated Shareholders Approve Merger with Hudson’s Bay Company|
Based on the tabulation of the shareholder vote, approximately 99.4% of
the total votes cast, which represents approximately 85.2% of the total
shares outstanding as of the
Under the terms of the Merger Agreement, the Company’s shareholders will
The Company’s shareholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to the Company’s named executive officers in connection with the merger.
The information contained in this press release that addresses future results or expectations is considered “forward-looking” information within the definition of the Federal securities laws. Forward-looking information in this press release can be identified through the use of words such as “may,” “will,” “intend,” “plan,” “project,” “expect,” “anticipate,” “should,” “would,” “believe,” “estimate,” “contemplate,” “possible,” and “point.” The forward-looking information is premised on many factors, some of which are outlined below. Actual results might differ materially from projected forward-looking information.
The forward-looking information and statements are or may be based on a series of projections and estimates and involve risks and uncertainties. These risks and uncertainties include such factors as: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of Saks’ merger agreement with HBC, (2) the failure to satisfy any of the closing conditions to the merger, and any delay in connection with the foregoing, and (3) the failure of HBC to obtain the necessary financing arrangements set forth in the debt commitment letter and equity investment agreement delivered in connection with the merger agreement.
Additional factors that may cause Saks’ actual results to differ
materially from those described in the forward-looking statements may be
found in Saks’ filings with the
The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise.