DALLAS -- U.S. Home Systems, Inc. ("USHS") announced today the expiration of the "go-shop" period pursuant to the terms of its previously announced Agreement and Plan of Merger dated as of August 6, 2012 (the "Merger Agreement"), between USHS, THD At-Home Services, Inc. ("Parent"), which is a wholly-owned subsidiary of The Home Depot, Inc., and Umpire Acquisition Corp. and wholly-owned subsidiary of Parent.
Under the Merger Agreement, USHS was permitted to initiate, solicit, facilitate and encourage acquisition proposals from third parties until 11:59 p.m. (Eastern time) on September 5, 2012. USHS engaged in a solicitation of 70 potential purchasers in connection with the "go-shop" period. Despite its solicitation efforts, USHS did not receive any alternative acquisition proposals during the "go-shop" period.
USHS also announced today that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Act as of August 17, 2012.
USHS currently anticipates that the merger will be consummated during the fourth calendar quarter of 2012, subject to satisfaction of the closing conditions described in the Merger Agreement, including approval of USHS stockholders. Four actions have been filed which seek, among other relief, to enjoin the merger. USHS believes that each of the pending actions are without merit, and intends to defend vigorously each such action.
About U.S. Home Systems, Inc.
U.S. Home Systems, Inc. manufactures or procures, designs, sells and installs custom quality specialty home improvement products. The company's product lines include kitchen cabinet refacing products utilized in kitchen remodeling, bathroom tub liners and wall surround products utilized in bathroom remodeling, and storage organization systems for closets and garages. The company manufactures its own cabinet refacing products and bathroom cabinetry. The company employs more than 1,000 associates and operates a nationwide network of over 40 branch offices. USHS' stock is traded on the NASDAQ Global Market (NASDAQ: USHS).
Have something to say? Share your thoughts with us in the comments below.