Proxy Governance Joins ISS, Glass Lewis and Egan Jones in Recommending Arrow International Shareholders Vote to Approve the $45.
2007年9月14日 - 11:20PM
PRニュース・ワイアー (英語)
READING, Pa., Sept. 14 /PRNewswire-FirstCall/ -- Arrow
International, Inc. (NASDAQ:ARRO) today reported that Proxy
Governance, Inc. a leading independent proxy voting advisory firm,
has advised its clients to vote to approve Arrow's planned $45.50
merger with Teleflex Incorporated (NYSE:TFX) and for the
re-election of Arrow's current Board of Directors at the Annual
Meeting of Arrow shareholders on September 20, 2007. Proxy
Governance is the fourth proxy advisory firm to recommend a vote
for the merger agreement. On September 7, as previously reported,
Glass, Lewis & Co. recommended that Arrow shareholders vote to
approve the merger agreement with Teleflex and for the election of
all of the Arrow director nominees. On September 12, Egan Jones
also recommended its clients support the merger and the re-election
of the full Arrow Board of Directors and Institutional Shareholders
Services (ISS) recommended its clients approve the merger and
support the election of a majority of the current Board of
Directors. R. James Macaleer, Chairman commented, "We are pleased
with the universal support for the Teleflex merger that we have
received from four leading proxy advisory firms. We are also
pleased that Glass Lewis, Proxy Governance, and Egan Jones also
support the re-election of the full Board of Directors. However, we
think that ISS is introducing unnecessary uncertainty into the
voting process by recommending that shareholders support two McNeil
Trust nominees and withhold votes from five McNeil Trust nominees.
We believe that any change in the composition of the Board at this
point could be detrimental to the timely completion of the Teleflex
merger. We strongly believe that shareholders will benefit by
voting for all of Arrow's director nominees. This Board is fully
committed to completing the Teleflex transaction and acting in the
best interests of all shareholders." Arrow shareholders are
reminded to vote the WHITE proxy card today to support the merger
agreement with Teleflex and the election of the full slate of Arrow
director nominees who will manage any events which may arise
following the Annual Meeting and prior to the consummation of the
merger. Arrow shareholders are cautioned NOT to return a blue proxy
to the McNeil Trust. All votes are important. For shares held by a
brokerage firm or bank, Arrow shareholders should provide them with
instructions on how to vote or they will be unable to vote on
certain issues, including the adoption of the merger agreement.
Please return the WHITE proxy card to the broker or bank to ensure
that shares are voted or vote by telephone or Internet.
Shareholders with questions regarding the solicitation may contact
Arrow International's proxy solicitor, Morrow & Co., Inc.
toll-free at 1-800-662-5200. About Arrow Arrow develops,
manufactures and markets a broad range of clinically advanced,
disposable catheters and related products for critical and cardiac
care. The company's products are used primarily by
anesthesiologists, critical care specialists, surgeons, emergency
and trauma physicians, cardiologists, interventional radiologists
and other healthcare providers. Arrow's news releases and other
company information can be found on the World Wide Web at
http://www.arrowintl.com/. Arrow's common stock trades on the
NASDAQ Global Select Market(TM) under the symbol ARRO. Additional
Information In connection with the proposed acquisition of Arrow by
Teleflex Incorporated and Arrow's 2007 Annual Meeting of
Shareholders, Arrow filed a definitive proxy statement with the
SEC, on August 24, 2007 and will be filing other documents with the
SEC. Arrow has furnished a definitive proxy statement to its
shareholders, together with a WHITE proxy card. Arrow shareholders
are strongly advised to carefully read Arrow's definitive proxy
statement. Shareholders may obtain the definitive proxy statement
on file with the SEC and any other documents filed by Arrow with
the SEC for free at the internet website maintained by the SEC at
http://www.sec.gov/. Shareholders may obtain free copies of the
definitive proxy statement and any amendments and supplements to
the definitive proxy statement at Arrow's website at
http://www.arrowintl.com/ or by writing to Arrow International,
Inc., 2400 Bernville Road, Reading, Pennsylvania 19605. In
addition, copies of Arrow's proxy materials may be requested by
contacting our proxy solicitor, Morrow & Co. at (800) 662-5200
toll-free or by writing to Morrow & Co., 470 West Avenue,
Stamford, CT 06902. Arrow and its directors and executive officers
may be deemed to be participants in the solicitation of proxies in
respect of the proposed transaction. Additional information
regarding the names, affiliations and interests of individuals who
are participants in the solicitation of proxies of Arrow's
shareholders is available in Arrow's definitive proxy statement
filed with the SEC on August 24, 2007. DATASOURCE: Arrow
International, Inc. CONTACT: Frederick J. Hirt of Arrow
International, Inc., +1-610-478-3142 Web site:
http://www.arrowintl.com/
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