Sequa Corp - Carlyle Group

Sequa Corp (SQA-A)
Carlyle Group
$2.7B

Summary

Aerospace and automotive parts maker acquired by private equity group

$175 per SQA-A share; $2.7B total
SQA-Astock chart

Announced 7.09.07

Closed 12.03.07

Advisors

Financial

SQA-A : Evercore
Carlyle : Lehman Brothers / Citigroup / JPMorgan

Legal

SQA-A : Cahill Gordon & Reindel
Carlyle : Latham & Watkins
Alexander family: Debevoise & Plimpton / Hartman & Craven

Merger Agreement

General

EDGAR filing
Hyperlinked version
Detailed hyperlinked index follows

Article I. The Merger

1.01 The Merger
1.02 Closing
1.03 Effective Time
1.04 Effect of the Merger
1.05 Certificate of Incorporation; Bylaws
1.06 Directors and Officers

Article II. Conversion of Securities; Exchange of
Certificates

2.01 Conversion of Securities
2.02 Exchange of Certificates
2.03 Stock Transfer Books
2.04 Options
2.05 Dissenting Shares

Article III. Company Reps

3.01 Organization and Qualification
3.02 Certificate of Incorporation and Bylaws
3.03 Capitalization
3.04 Authority Relative to this Agreement
3.05 No Conflict; Required Filings and Consents
3.06 Permits; Compliance
3.07 Sec Filings; Financial Statements; Undisclosed
Liabilities
3.08 Affiliate Transactions
3.09 Absence of Certain Changes or Events
3.10 Absence of Litigation
3.11 Employee Benefit Plans
3.12 Labor and Employment Matters
3.13 Real Property
3.14 Intellectual Property
3.15 Taxes
3.16 Environmental Matters
3.17 Specified Contracts
3.18 Insurance
3.19 FAA Matters
3.20 Business Relationships
3.21 Absence of Certain Business Practices
3.22 Board Approval; Vote Required
3.23 Rights Agreement
3.24 Opinions of Financial Advisors
3.25 Brokers
3.26 No Other Representations or Warranties

Article IV. Parent and Merger Co Reps

4.01 Corporate Organization
4.02 Certificate of Incorporation and Bylaws
4.03 Authority Relative to this Agreement
4.04 No Conflict; Required Filings and Consents
4.05 Absence of Litigation
4.06 Operations of Merger Co
4.07 Financing
4.08 Guarantees
4.09 Brokers
4.10 Solvency

Article V. Conduct of Business Pending the Merger

5.01 Company

Article VI. Additional Agreements

6.01 Proxy Statement; Other Filings
6.02 Company Stockholders Meeting
6.03 Access to Information; Confidentiality
6.04 No Solicitation of Transactions
6.05 Directors and Officers Indemnification and Insurance
6.06 Employee Benefits Matters
6.07 Notification of Certain Matters
6.08 Financing
6.09 Further Action; Reasonable Best Efforts
6.10 Public Announcements
6.11 Resignations
6.12 Redemption of Company Notes
6.13 Stockholder Litigation

Article VII. Conditions to the Merger

7.01 Each Party
7.02 Parent and Merger Co
7.03 Company

Article VIII. Termination, Amendment and Waiver

8.01 Termination
8.02 Effect of Termination
8.03 Fees and Expenses
8.04 Amendment
8.05 Waiver

Article IX. General Provisions

9.01 Non-survival of Representations, Warranties and
Agreements
9.02 Notices
9.03 Certain Definitions
9.04 Severability
9.05 Entire Agreement; Assignment
9.06 Parties in Interest
9.07 Governing Law
9.08 Specific Performance; Submission to Jurisdiction
9.09 Waiver of Jury Trial
9.10 Headings
9.11 Counterparts

Schedule 13D Filings

Schedule 13D

Gabelli Family 7.12.07

Proxy Solicitation

Special meeting postponed to 9.17.07

Press release

Special meeting scheduled for 9.11.07

Definitive proxy statement 8.27.07

Table of contents

Preliminary proxy statement 8.06.07

Table of contents

Deal Protection

Go shop until 8.23.07

No shop covenant

Merger agreement 6.4

Proxy statement disclosure

Break-up fee

$60mm, plus out-of-pocket expenses
$30mm if terminated on or before solicitation end date
Agreement 8.3

Proxy statement disclosure

Regulatory Approvals

HSR Act

Merger agreement 6.9

Proxy statement disclosure

Fairness Opinion

Evercore fairness opinion

Proxy statement disclosure

Tax Matters

Disclosure

Proxy statement disclosure

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