NEW YORK, Sept. 24 /PRNewswire/ -- Planet Hollywood International, Inc.
('Planet Hollywood') announced today that it has completed its tender offer
for all outstanding shares of common stock of BUCA, Inc. ('BUCA')
(Nasdaq: BUCA). Planet Hollywood intends to complete the acquisition as soon
as reasonably practicable.
The subsequent offering period expired at 12:00 Midnight, ET, on
September 23, 2008. Based on information provided by Wells Fargo Bank, N.A.,
as the Depositary, as of such time, an aggregate of approximately 19,337,263
Shares (including 2,371 Shares subject to guarantees of delivery) were validly
tendered and not withdrawn pursuant to the Offer, representing approximately
90.3% of the outstanding Shares.
Planet Hollywood intends to effect a 'short-form' merger under Minnesota
law and BUCA will become a wholly-owned subsidiary of Planet Hollywood. As a
result of the merger, any shares of BUCA common stock not tendered will be
cancelled and (except for shares held by Planet Hollywood or its subsidiaries,
or shares for which dissenter rights are properly demanded) will be converted
into the right to receive the same $0.45 in cash per share, without interest
and less any required withholding taxes, that was paid in the tender offer.
Following the merger, BUCA common stock will cease to be traded on the
NASDAQ Global Market.
Altman Group, Inc. is the Information Agent for the tender offer. For
questions and information regarding the tender offer and the subsequent
offering period, please call the Altman Group, Inc. at (866) 530-8628
(toll free).
About Planet Hollywood
Planet Hollywood International, Inc. is the creator and worldwide
developer of consumer brands that capitalize on the universal appeal of
movies, television, sports, music, and other leisure time activities. The
company's worldwide operations offer products and services in the restaurant,
retail, leisure, and entertainment sectors including, under license, the
Planet Hollywood Resort & Casino, the hottest new property on the Las Vegas
Strip featuring over 100,000 square feet of gaming, fine dining restaurants,
an award-winning buffet, casual dining options, lounges and nightclubs.
Additional Information
This press release is neither an offer to purchase nor a solicitation of
an offer to sell securities. The tender offer has been made pursuant to a
tender offer statement and related materials. BUCA shareholders are advised to
read the tender offer statement and related materials, which have been filed
by Planet Hollywood with the U.S. Securities and Exchange Commission (the
'SEC'). The tender offer statement (including the offer to purchase, letter of
transmittal and related tender offer documents) filed by Planet Hollywood with
the SEC and the solicitation/recommendation statement filed by BUCA with the
SEC contain important information which should be read carefully before any
decision is made with respect to the tender offer. The tender offer statement
and the solicitation/recommendation statement have been mailed to all BUCA
shareholders of record.
The tender offer statement and related materials may be obtained at no
charge by directing a request by mail to the Altman Group, Inc., 1200 Wall
Street West, Lyndhurst, NJ 07071, or by calling toll-free at (866) 530-8628,
and may also be obtained at no charge the website maintained by the SEC at
www.sec.gov.
DISCLOSURE NOTICE: The information contained in this release is as of
September 24, 2008. Except as required by law, Planet Hollywood does not
assume any obligation to update any forward-looking statements contained in
this release as a result of new information or future events or developments.
Some statements in this release may constitute forward-looking statements.
Planet Hollywood cautions that these forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ materially
from those indicated in the forward-looking statements, including the risk
that the tender offer may not be completed or the merger may not be
consummated for various reasons, including the failure to satisfy the
conditions precedent to the completion of the acquisition.
SOURCE Planet Hollywood International, Inc.