SOUTHLAKE, Texas–(BUSINESS WIRE)–March 26, 2007–Sabre Holdings
Corporation (NYSE:TSG) announced today that it has entered into
memoranda of understanding with plaintiffs’ counsel and other named
defendants regarding the settlement of both a purported class action
lawsuit (the McBride case) and a purported derivative action (the
Holowach case), brought on behalf of Sabre Holdings stockholders. Both
the McBride and Holowach cases were filed in the District Court for
the State of Texas in Tarrant County following the December 12, 2006
announcement of the Agreement and Plan of Merger by and among Sabre
Holdings and subsidiaries of Silver Lake Partners and Texas Pacific
Group.
Under the terms of the memoranda, Sabre Holdings, the other named
defendants and the plaintiffs have agreed to settle both lawsuits,
subject to definitive documentation, any applicable procedural
requirements under Texas law and other conditions, and the settlements
will be presented to the courts in which each case is pending for
approval after the transaction has closed. The settlements will not
affect the amount of merger consideration to be paid to stockholders
of Sabre Holdings in connection with the proposed merger.
In addition, the settlements will not affect the timing of the
special meeting of stockholders of Sabre Holdings to vote upon the
proposal to adopt the merger agreement, which is scheduled for March
29, 2007. The company anticipates that its stockholders will approve
the acquisition at the special meeting of stockholders and that the
acquisition will close on or about March 30, 2007.
The company also filed this information and other details via an
8-K filing with the SEC, which can be found at the SEC’s Web site
at http://www.sec.gov, or via the company’s Web site at
www.sabre-holdings.com/investor.
About Sabre Holdings
Sabre Holdings connects people with the world’s greatest travel
possibilities by retailing travel products and providing distribution
and technology solutions for the travel industry. Sabre Holdings
supports travelers, travel agents, corporations, government agencies
and travel suppliers through its companies: Travelocity, Sabre Travel
Network and Sabre Airline Solutions. Headquartered in Southlake,
Texas, the company has approximately 9,000 employees in 45 countries.
Full-Year 2006 revenues totaled $2.8 billion. Sabre Holdings, an S&P
500 company, is traded on the NYSE under the symbol TSG. More
information is available at http://www.sabre-holdings.com.
About the Acquisition
In connection with the proposed merger of the company with
affiliates of Texas Pacific Group and Silver Lake Partners, the
company filed a definitive proxy statement with the Securities and
Exchange Commission on February 21, 2007. INVESTORS AND SECURITY
HOLDERS ARE STRONGLY ADVISED TO READ THE DEFINITIVE PROXY STATEMENT
BECAUSE THE DEFINITIVE PROXY STATEMENT CONTAINS, IMPORTANT
INFORMATION. Investors and security holders may obtain a free copy of
the definitive proxy statement and other documents filed by Sabre
Holdings at the Securities and Exchange Commission’s Web site
at http://www.sec.gov. The definitive proxy statement and such other
documents may also be obtained for free by directing such requests to
the Sabre Holdings investor relations department at 866-722-7347, or
on the company’s Web site at www.sabre-holdings.com/investor.
Sabre Holdings and its directors, executive officers and certain
other members of its management and employees may be deemed to be
participants in the solicitation of proxies from its stockholders in
connection with the proposed merger. Information regarding the
interests of such directors and executive officers and all of Sabre
Holdings’ participants in the solicitation is included in the
definitive proxy statement, which is available free of charge at the
Securities and Exchange Commission’s Web site at www.sec.gov and from
the Sabre Holdings investor relations department at 866-722-7347, or
on the company’s website at www.sabre-holdings.com/investor.
CONTACT: Sabre Holdings Corporation
Media Contact:
Michael Berman, 682-605-2397
michael.berman@sabre-holdings.com
or
Investor Relations Contact:
Karen Fugate, 682-605-2343
karen.fugate@sabre-holdings.com
SOURCE: Sabre Holdings Corporation