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Document Preview Agreement and Plan of Merger |
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Title: |
Agreement and Plan of Merger |
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Entities: |
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Date: |
2007 |
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Size: |
164KB total |
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Price: |
$59 |
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ID: |
#2865825 |
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Start of Preview |
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AGREEMENT AND PLAN OF MERGER
BY
AND
AMONG
LINEAR LLC,
ACQUISITION SUB 2007-2, INC.
AND
INTERNATIONAL ELECTRONICS, INC.
DATED AS OF MAY 14, 2007
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ARTICLE I TERMS OF THE MERGER |
2 | |
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1.1 |
The Offer |
2 |
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1.2 |
Company Actions |
3 |
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1.3 |
Directors of the Company |
4 |
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1.4 |
The Merger |
6 |
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1.5 |
The Closing, Effective Time |
6 |
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1.6 |
Conversion of Securities |
6 |
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1.7 |
Tender of and Payment For Certificates |
7 |
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1.8 |
Options |
8 |
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1.9 |
Dissenting Shares |
9 |
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1.10 |
Articles of Organization and Bylaws |
10 |
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1.11 |
Directors and Officers |
10 |
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1.12 |
Other Effects of Merger |
10 |
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1.13 |
Additional Actions |
10 |
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ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY |
11 | |
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2.1 |
Due Organization and Good Standing |
11 |
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2.2 |
Capitalization |
12 |
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2.3 |
Authorization, Binding Agreement |
13 |
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2.4 |
Governmental Approvals |
13 |
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2.5 |
No Violations |
14 |
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2.6 |
SEC Filings, Company Financial Statements |
14 |
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2.7 |
Absence of Certain Changes |
16 |
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2.8 |
Absence of Undisclosed Liabilities |
17 |
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2.9 |
Permits / Compliance with Law |
17 |
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2.10 |
Litigation |
17 |
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2.11 |
Material Contracts |
18 |
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2.12 |
Intellectual Property |
18 |
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2.13 |
Employee Benefit Plans |
18 |
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2.14 |
Taxes and Returns |
20 |
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2.15 |
Finders and Investment Banker |
21 |
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2.16 |
Fairness Opinion |
21 |
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2.17 |
Vote Required All Necessary Actions |
22 |
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2.18 |
Environmental Matters |
22 |
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2.19 |
Schedule 14D-9; Offer Documents; and Proxy Statement |
23 |
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2.20 |
Affiliate Transactions |
23 |
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2.21 |
Customers |
23 |
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ARTICLE III REPRESENTATIONS AND WARRANTIES OF PURCHASER |
24 | |
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3.1 |
Due Organization and Good Standing |
24 |
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3.2 |
Authorization; Binding Agreement |
24 |
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3.3 |
Governmental Approvals |
24 |
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3.4 |
No Violations |
25 |
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3.5 |
Finders and Investment Bankers |
25 |
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3.6 |
Disclosures |
25 |
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3.7 |
Financing |
26 |
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3.8 |
Litigation |
26 |
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3.9 |
No Prior Activities |
26 |
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ARTICLE IV ADDITIONAL COVENANTS OF THE COMPANY |
26 | |
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4.1 |
Conduct of Business of the Company |
26 |
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4.2 |
Notification of Certain Matters |
29 |
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4.3 |
Access and Information |
30 |
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4.4 |
Special Meeting; Proxy Statement |
30 |
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4.5 |
Reasonable Best Efforts |
31 |
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4.6 |
Public Announcements |
31 |
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4.7 |
State Takeover Laws |
32 |
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4.8 |
No Solicitation |
32 |
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ARTICLE V ADDITIONAL COVENANTS OF PURCHASER |
34 | |
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5.1 |
Notification of Certain Matters |
34 |
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5.2 |
Reasonable Efforts |
34 |
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5.3 |
Public Announcements |
35 |
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5.4 |
Indemnification |
35 |
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5.5 |
Employee Matters |
36 |
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ARTICLE VI CONDITIONS |
37 | |
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6.1 |
Conditions To Each Partys Obligations |
37 |
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6.2 |
Frustration of Conditions |
37 |
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ARTICLE VII TERMINATION AND ABANDONMENT |
38 | |
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7.1 |
Termination |
38 |
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7.2 |
Effect of Termination |
39 |
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7.3 |
Termination Fee |
39 |
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ARTICLE VIII MISCELLANEOUS |
40 | |
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8.1 |
Confidentiality |
40 |
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8.2 |
Amendment and Modification |
40 |
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8.3 |
Waiver of Compliance; Consents |
40 |
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8.4 |
Survival |
41 |
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8.5 |
Notices |
41 |
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8.6 |
Binding Effect; Assignment |
42 |
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8.7 |
Obligations of Purchaser |
42 |
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8.8 |
Governing Law |
42 |
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8.9 |
Counterparts |
42 |
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8.10 |
Interpretation |
43 |
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8.11 |
Entire Agreement |
43 |
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8.12 |
Severability |
43 |
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8.13 |
Specific Performance |
44 |
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8.14 |
Attorneys Fees |
44 |
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8.15 |
Third Parties |
44 |
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8.16 |
Jurisdiction |
44 |
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8.17 |
Waiver of Jury Trial |
44 |
AGREEMENT AND PLAN OF MERGER
This Agreement and Plan of Merger (this Agreement) is made and entered into as of May 14, 2007, by and among Linear LLC, a California limited liability company (Purchaser), Acquisition Sub 2007-2, Inc., a Massachusetts corporation and wholly-owned Subsidiary of Purchaser (Merger Sub), and, solely for purposes of Section 8.7 hereof, Nortek, Inc., a Delaware corporation (Owner), and International Electronics, Inc., a Massachusetts corporation (the Company).
WITNESSETH:
NOW, THEREFORE, in consideration of the representations, warranties, covenants and agreements contained in this Agreement and intending to be legally bound hereby, the parties hereto agree as follows:
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