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Cole National Corporation Receives Revised Acquisition Proposal from Moulin International.

Publication: PR Newswire
Publication Date: 13-JUL-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Cole National Corporation announced that it received yesterday from Moulin International Holdings Limited a revised proposal to acquire Cole National in a merger at a price of $25.00 per share in cash. The proposal is subject to the termination of the merger agreement with Luxottica Group S.p.A., the execution of definitive agreements with Moulin, approval by Cole National's and Moulin International's stockholders, receipt of regulatory approvals and other customary conditions. The proposal contemplates that HAL Holding, N.V., which owns approximately 19.1% of Cole National's outstanding shares, will provide substantial financing for the transaction, including by purchasing certain assets of Cole National at the closing of the proposed merger. Moulin also delivered written financial commitments from other financing sources for additional financing required for the transaction, which are subject to customary conditions. The financing commitments are not subject to further due diligence.

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