Presentation of Credit Suisse First Boston to the Board of Directors 03/27/2005
THESE MATERIALS MAY NOT BE USED OR RELIED UPON FOR ANY PURPOSE OTHER THAN AS SPECIFICALLY CONTEMPLATED BY A WRITTEN AGREEMENT WITH CREDIT SUISSE FIRST BOSTON. CONFIDENTIAL Situation Overview In May 2004, CSFB was engaged by Solar as its financial advisor in connection with the proposed spin-off of its availability services business (“Allen”). The spin-off transaction was publicly announced on October 4, 2004 and is scheduled to close in the 2nd quarter of 2005 On November 19, 2004, Saturn expressed an interest to acquire Solar for a 20% premium to Solar’s closing stock price ($31.88 per Solar share) (1) Solar’s Board of Directors discussed Saturn’s proposal; Solar’s Board determined that Saturn’s offer was not attractive and insufficient for Solar to not proceed with the spin-off of Allen On November 30, 2004, Saturn offered to acquire Solar for $33.00—$35.00 per Solar share On December 2, 2004, Solar’s Board discussed the second Saturn offer; the Board subsequently authorized Solar ma
THESE MATERIALS MAY NOT BE USED OR RELIED UPON FOR ANY PURPOSE OTHER THAN AS SPECIFICALLY CONTEMPLATED BY A WRITTEN AGREEMENT WITH CREDIT SUISSE FIRST BOSTON. CONFIDENTIAL Situation Overview In May 2004, CSFB was engaged by Solar as its financial advisor in connection with the proposed spin-off of its availability services business (“Allen”). The spin-off transaction was publicly announced on October 4, 2004 and is scheduled to close in the 2nd quarter of 2005 On November 19, 2004, Saturn expressed an interest to acquire Solar for a 20% premium to Solar’s closing stock price ($31.88 per Solar
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