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Title: |
Agreement and Plan of Merger |
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Date: |
2005 |
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Preview shows 21KB of 379KB total |
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$70 |
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#1118733 |
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ACQUISITION AGREEMENT AND
AGREEMENT AND PLAN OF MERGER
DATED AS OF OCTOBER 7, 2005
BY AND AMONG
GOODY'S FAMILY CLOTHING, INC.,
GFC ENTERPRISES, INC.
AND
GFC HOLDING CORP.
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
----
<S> <C>
EXHIBITS................................................................. 1
INDEX OF DEFINED TERMS................................................... 1
LIST OF SCHEDULES........................................................ 1
ACQUISITION AGREEMENT AND AGREEMENT AND PLAN OF MERGER................... 1
RECITALS................................................................. 1
ARTICLE 1 THE OFFER...................................................... 2
1.01 The Offer...................................................... 2
1.02 Company Actions................................................ 4
1.03 Directors...................................................... 5
ARTICLE 2 THE MERGER..................................................... 7
2.01 The Merger..................................................... 7
2.02 Effective Time................................................. 7
2.03 Effects of the Merger.......................................... 7
2.04 Charter and Bylaws of the Surviving Corporation................ 8
2.05 Directors...................................................... 8
2.06 Officers....................................................... 8
2.07 Closing........................................................ 8
2.08 Additional Actions............................................. 8
ARTICLE 3 EFFECT OF THE MERGER ON THE CAPITAL STOCK OF THE COMPANY AND
ACQUISITION CORP...................................................... 9
3.01 Effect on Shares of Capital Stock.............................. 9
3.02 Options; Stock Plans........................................... 9
3.03 Payment for Common Shares and Options in the Merger............ 11
ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE COMPANY.................. 13
4.01 Organization and Qualification................................. 14
4.02 Charter Documents and Bylaws................................... 14
4.03 Capitalization................................................. 14
4.04 Authority Relative to this Agreement........................... 15
4.05 Company Subsidiaries........................................... 16
4.06 No Violation; Required Filings and Consents.................... 16
4.07 SEC Reports and Financial Statements........................... 17
4.08 Compliance with Applicable Laws................................ 19
4.09 Absence of Certain Changes or Events........................... 20
4.10 Change of Control.............................................. 21
</TABLE>
<PAGE>
<TABLE>
<S> <C>
4.11 Litigation..................................................... 21
4.12 Information in Offer Documents and Proxy Statement............. 22
4.13 Benefit Plans.................................................. 22
4.14 Taxes.......................................................... 25
4.15 Intellectual Property.......................................... 27
4.16 Licenses and Permits........................................... 28
4.17 Material Contracts............................................. 29
4.18 Environmental Laws............................................. 30
4.19 Opinion of Financial Advisor................................... 31
4.20 Brokers........................................................ 31
4.21 Special Committee and Company Board Recommendations............ 31
4.22 Required Shareholder Vote...................................... 32
4.23 Related Party Transactions..................................... 32
4.24 Assets and Properties.......................................... 32
4.25 Labor and Employment Matters................................... 33
4.26 Insurance...................................................... 34
4.27 Company Expenses............................................... 35
4.28 State Takeover Statutes........................................ 35
4.29 Suppliers...................................................... 35
4.30 No Other Representations or Warranties......................... 35
ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF PARENT....................... 36
5.01 Organization and Qualification................................. 36
5.02 Charter Documents and Bylaws................................... 37
5.03 Authority Relative to this Agreement........................... 37
5.04 No Violation; Required Filings and Consents.................... 37
5.05 Litigation..................................................... 38
5.06 Brokers........................................................ 38
5.07 Information to be Supplied..................................... 38
5.08 Financing...................................................... 39
5.09 Holding Corp. and Acquisition Corp............................. 39
ARTICLE 6 COVENANTS...................................................... 39
6.01 Interim Operations............................................. 39
6.02 Shareholders Meeting........................................... 44
6.03 Filings and Consents........................................... 45
6.04 Access to Information.......................................... 45
6.05 Notification of Certain Matters................................ 46
6.06 Public Announcements........................................... 46
6.07 Further Assurances; Reasonable Best Efforts.................... 47
6.08 No Solicitation................................................ 47
6.09 SEC Reports.................................................... 50
6.10 Delisting...................................................... 50
6.11 Financing...................................................... 50
6.12 Shareholder Litigation......................................... 51
6.13 Conveyance Taxes............................................... 51
6.14 Special Meeting................................................ 51
</TABLE>
ii
<PAGE>
<TABLE>
<S> <C>
6.15 State Takeover Laws............................................ 51
6.16 Stock Purchase Plans........................................... 51
6.17 Management Services Agreement.................................. 51
6.18 Certain Deliveries Prior to Offer Payment Date................. 52
6.19 Employee Benefits.............................................. 53
6.20 Directors' and Officers' Indemnification and Insurance......... 53
ARTICLE 7 CONDITIONS TO CONSUMMATION OF THE MERGER....................... 55
7.01 Conditions to the Obligations of Each Party.................... 55
7.02 Conditions to Obligations of Acquisition Corp. and Parent......
ARTICLE 8 TERMINATION.................................................... 55
8.01 Termination by Mutual Consent.................................. 55
8.02 Termination by Acquisition Corp., Parent or the Company........ 55
8.03 Termination by Acquisition Corp. and Parent.................... 56
8.04 Termination by the Company..................................... 58
8.05 Effect of Termination.......................................... 58
ARTICLE 9 MISCELLANEOUS.................................................. 59
9.01 Payment of Fees and Expenses................................... 59
9.02 No Survival of Representations, Warranties, Covenants and
Agreements..................................................... 61
9.03 Modification or Amendment...................................... 61
9.04 Entire Agreement; Assignment; Termination of Confidentiality
Agreement...................................................... 61
9.05 Validity....................................................... 61
9.06 Notices........................................................ 61
9.07 Governing Law.................................................. 62
9.08 Descriptive Headings........................................... 62
9.09 Counterparts................................................... 62
9.10 Certain Definitions............................................ 63
9.11 Specific Performance........................................... 64
9.12 Extension; Waiver.............................................. 64
9.13 Third-Party Beneficiaries...................................... 64
9.14 Company Disclosure Schedule.................................... 64
9.15 Severability................................................... 64
9.16 Submission to Jurisdiction; Waiver of Jury Trial............... 65
ANNEX A.................................................................. 67
CONDITIONS TO THE TENDER OFFER........................................... 67
</TABLE>
iii
<PAGE>
EXHIBIT 2.1
EXHIBITS
<TABLE>
<S> <C>
Exhibit A Articles of Merger
Exhibit B Charter of Surviving Corporation
Exhibit C Bylaws of Surviving Corporation
Exhibit D Form of Acknowledgement of Certain Optionholders
Exhibit E Press Release
Exhibit F Management Services Agreement
</TABLE>
<PAGE>
INDEX OF DEFINED TERMS
<TABLE>
<CAPTION>
TERM LOCATION OF DEFINITION
---- ----------------------
<S> <C>
1991 Plan 3.02(a)
Accountants 6.11(a)
Acquisition Corp Introduction
Acquisition Corp. Common Stock 3.01(c)
Acquisition Corp. Disclosure Schedule 5.04(a)
Acquisition Corp. Material Adverse Effect 5.01
Acquisition Corp. Representatives 6.04
Acquisition Corp. Stock Option Agreement Recitals
Acquisition Proposal 6.08(f)
affiliate 9.10(a)
Agent 3.03(a)
Agreement Introduction
Articles of Merger 2.02
Benefit Plans 4.13(b)
Business Day 9.10(b)
Certain Principal Shareholders Recitals
Certificates 3.03(b)
Charter 9.10(c)
Class B Common Stock 4.03(a)
Closing 2.07
Closing Date 2.07
COBRA 4.13(a)
Code 3.03(h)
Commencement Delay Election 8.03
Commitment Letter 5.08
Common Shares Recitals
Company Introduction
Company Board Recitals
Company Break Up Fee 9.01(b)
Company Disclosure Documents 4.12(a)
Company Disclosure Schedule 4.01
Company Extension Election 1.01
Company Material Adverse Effect 4.01
Company Permits 4.16
Company Representatives 6.04
Company Tender Recommendation 1.02(b)
Confidentiality Agreement 6.04
Contract 9.10
Costs 6.20(a)
Director Plan 3.02(a)
Effective Time 2.02
Employees 4.13(a)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TERM LOCATION OF DEFINITION
---- ----------------------
<S> <C>
Environmental Laws 4.18(e)
ERISA 4.13(b)
Exchange Act 1.01(a)
Expenses 9.01(a)
Financial Advisor 4.19
Financing 6.11(a)
Force Majeure Event 8.03
Force Majeure Period 8.03
Four Day Period 6.08(c)
Fully-Diluted Basis 9.10(e)
Future SEC Reports 4.07(a)
GAAP 4.07(b)
Governmental Authority 4.06(b)
GUST 4.13(c)
Hazardous Substances 4.18(e)
HSR Act 4.06(b)
Indebtedness 4.07(b)
Indemnified Directors and Officers 6.20(a)
Independent Directors 1.03(c)
Intellectual Property 4.15(b)
Interim Financial Statements 4.07(b)
knowledge 9.10(f)
Law 4.06(a))
Laws 4.06(a)
Leased Real Property 9.10(g)
Leases 9.10(h)
Liabilities 4.07(d)
Lien 4.06(a)
Liens 4.06(a)
Material Contracts 4.17(a)
Maximum Amount 6.20(c)
Merger 2.01
Merger Consideration 3.01(a)
Minimum Condition 1.01(a)
Multiemployer Pension Plans 4.13(b)
Nasdaq 1.03(c)
Offer 1.01(a)
Offer Documents 1.01(b)
Offer Payment Date 1.01(a)
Offer Price 1.01(a)
Offer to Purchase 1.01(a)
Option 3.02(a)
Option Consideration 3.02(b)
Order 7.01(b)
Other Offer Closing Conditions Annex A
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
TERM LOCATION OF DEFINITION
---- ----------------------
<S> <C>
Owned Real Property 9.10(i)
Parent Introduction
Parent Disclosure Documents 5.07(b)
Payment Fund 3.03(a)
Pension Plans 4.13(b)
Permits 4.16
Permitted Liens 4.24(d)
Person 9.10(j)
Preferred Stock 4.03(a)
Press Release 6.06
Proxy Statement 4.12(a)
Release 4.18(e)
Schedule TO 1.01(b))
SEC 1.01(b)
SEC Reports 4.07(a)
Securities Act 4.06(b)
Shareholder Approval 4.22
Shareholders Meeting 6.02
Special Committee Recitals
Stock Plan 3.02(a)
Sub Board 1.03(a)
Subsidiaries 9.10(k)
Subsidiary 9.10(k)
Summary of Material Terms 4.24(c)
Superior Proposal 6.08(g)
Support Agreement Recitals
Surviving Corporation 2.01
Surviving Corporation Common Stock 3.01(c)
Tax 4.14(i))
Tax Return 4.14(i)
Taxes 4.14(i)
TBCA Recitals
Tenn. Acts Recitals
Terminating Acquisition Corp. Breach 8.04(a)
Terminating Company Breach 8.03(a)
Termination Date 8.02(b)
Transaction Agreements Recitals
Transactions 4.01
WARN Act 4.25(c)
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