During the go-shop period, the company engaged in a broad solicitation of strategic and financial parties to determine whether they might have an interest in making a proposal to acquire the company; only one company submitted an acquisition proposal.
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Vitamin Shoppe determined that the bidder qualified as an “excluded party” as defined in the merger agreement, and that the bidder’s acquisition proposal is reasonably likely to lead to a superior proposal. Vitamin Shoppe intends to engage in negotiations with the bidder.The release notes that Vitamin Shoppe hasn’t yet determined whether or not the acquisition proposal constitutes a superior proposal; accordingly, discussions and negotiations with the bidder could terminate at any time. Neither Vitamin Shoppe’s Board of Directors nor the Special Committee of the Board of Directors has changed its recommendation in favor of Vitamin Shoppe’s pending merger with Liberty Tax.
