Matrixx provides 'go-shop' process update

SCOTTSDALE, Ariz. — Matrixx Initiatives on Friday provided a summary of the ongoing "go-shop" process initiated by the company after Wonder Holdings proposed a merger agreement. The “go-shop” process is scheduled to run through Jan. 22.

To date, Matrixx’s financial adviser, Sawaya Segalas, has contacted 132 separate parties that were identified as potentially interested parties. Of the parties contacted, 48 were strategic parties, and 84 were financial parties. From this group, 31 parties executed confidentiality agreements, including seven strategic parties and 24 financial parties.

As of Friday, all of these parties have withdrawn from the “go-shop” process.

Wonder commenced a tender offer to purchase for cash all of the outstanding shares of Matrixx common stock at a price of $8 per share. The tender offer will expire at 5 p.m. EST on Jan. 31.

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