The transaction is valued at $3.5 billion in comparison with aninitial agreement for $3.2 billion that was reached in earlyNovember 2006. With the close, OSI common stock, which last tradedat $41.10 a share, ceased trading on the New York StockExchange.
Under the terms, OSI shareholders are entitled to $41.15 ashare. However, founders Chris Sullivan, Robert Basham and TimothyGannon are to receive $40 a share in cash.
The trio previously struck a deal with Kangaroo Holdings Inc.,which is an entity controlled by funds associated with Bain andCatterton, based on $40 a share. Separately, each contributedshares to Kangaroo in exchange for its stock, and, with thistransaction, those shares are now exchanged at the $40-a-shareprice.
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