Aug, 2001 : Genuity Exchange Offer for Integra Successful

📅 August 27, 2001 - Genuity Inc. (genuity.com), a leadingglobal e-business network provider, and Integra S.A.(integra- europe.com), a premier European provider of managed hosting solutions, last week announced that Genuity has succeeded in its amicable exchange offerfor Integra, receiving approximately three quarters ofIntegra's 45 million shares outstanding. Earlier thesame day, the Conseil des Marches Financiers(cmf-france.org) released the official results of theoffer announcing that Genuity has receivedapproximately 75 percent of Integra shares outstandingand at least 70 percent of Integra's voting power.

"We believe that the combination of Integra andGenuity represents an exceptional opportunity tobecome a global leader in managed Web hosting andintegrated e-business solutions," said Paul R.Gudonis, Genuity chairman and CEO. "Expanding ourpresence in Europe enables us to meet the increasingdemand among European enterprises and multinationalcompanies for complete, world-class e-businesssolutions."
Under a recently adopted French tender offerregulation, Genuity has the option to re-open theexchange offer for an additional period of at least 10trading days and enable additional Integrashareholders to tender their shares. Genuity has yetto make a formal decision regarding this option. Sucha decision must be made within two weeks. The detailsof any re-opened exchange offer would be set forth ina future announcement by Genuity. In accordance withthe terms of the exchange offer, Integra shareholderswould receive three shares of Genuity Class A commonstock in exchange for four Integra shares.

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