July 18, 2008
Knobias Clip Report (07-16-2008) USNA
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Submitted By Knobias ClipReport
USNA: Gull Holdings Terminates Offer to Acquire USANA
Gull Holdings, Ltd. and Unity Acquisition Corp. announced that they are terminating their offer to purchase all of the outstanding shares of USANA Health Sciences, Inc. (USNA). After further reviewing the results of the offer and receiving additional feedback from shareholders, it became clear that the purchaser would not receive tenders of a sufficient number of shares to satisfy the non-waivable condition to the offer that the purchaser own at least 90% of the outstanding shares following the completion of the offer. As a result, the offer participants have decided to not undertake the actions that would be necessary to lift the preliminary injunction imposed by the Third Judicial District Court of Salt Lake County, Utah and to terminate the offer.
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