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Announcement of discontinuation of the Plan of the Acquisition of am/pm Japan Co., Ltd. and dissolution of the Business Alliance |
| 2009/05/19 |
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| LAWSON, Inc., in an announcement made on March 14, 2009, finally agreed with REX Holdings Inc. to acquire all the shares of, and all the receivables from, its subsidiary, am/pm Japan Co., Ltd.(hereafter "am/pm Japan Co., Ltd.")(hereafter this acquisition is referred as "the Acquisition") and had entered into an agreement to transfer such shares and receivables together with a comprehensive business alliance agreement with am/pm Japan Co., Ltd (hereafter "the Business Alliance"). However, today, LAWSON, Inc. decided to discontinue the plan of such Acquisition and dissolve the Business Alliance. Details are as follows: |
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1. Reasons for the discontinuation of the plan of the Acquisition and dissolution of the Business Alliance
LAWSON, Inc finally agreed with REX Holdings Inc. to acquire all the shares of, and all the receivables from, its subsidiary, am/pm Japan Co., Ltd. on March 13, 2009 and entered into an agreement to transfer such shares and receivables and an agreement for a comprehensive business alliance with am/pm Japan Co., Ltd. In preparation of such Acquisition, LAWSON, Inc. and am/pm Japan Co., Ltd. established a Management Unification Committee towards unification of their business management schemes and they were continuously negotiating with the relevant parties regarding matters including an agreement between am/pm Japan Co., Ltd and its trade mark licensor and the adjustment of certain other conditions of the Acquisition. However, LAWSON, Inc. determined that such agreement with the trade mark licensor (which was a condition of the Acquisition) would be difficult to reach and, after discussion with REX Holdings Inc., decided to discontinue the plan of the Acquisition and dissolve the Business Alliance.2. Outlook
The discontinuation of the plan of the Acquisition and the dissolution of the Business Alliance will have minimal impact on LAWSON, Inc.'s results |
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