– Transaction to Close on May 2, 2016 –
BOSTON--(BUSINESS WIRE)--
Iron
Mountain Incorporated (NYSE: IRM), the storage and information
management services company, today announced that the Federal Court of
Australia has approved the proposed acquisition of Recall Holdings
Limited (“Recall”) by Iron Mountain pursuant to an Australian scheme of
arrangement as contemplated in the Scheme Implementation Deed or the
Transaction. The Transaction is expected to close (referred to as
“implementation of the scheme” under Australian law), on May 2, 2016,
Sydney time, as anticipated.
Pursuant to the terms of the Scheme Implementation Deed, Iron Mountain’s
board of directors has appointed Neil Chatfield, age 61, and Wendy
Murdock, age 63, to serve as directors of Iron Mountain, effective upon
the close of the Transaction.
In addition, in order to provide a portion of the financing in
connection with the Transaction, Iron Mountain has entered into a
commitment letter, dated April 19, 2016, with JPMorgan Chase Bank, N.A.,
as a lender and administrative agent, and the other lenders party
thereto, or the Lenders, pursuant to which the Lenders have committed to
provide to Iron Mountain an unsecured bridge term loan facility of up to
$850,000,000, or the Bridge Facility.
Further details on the above matters as well as the timetable for the
effective date of the Transaction through implementation can be found in
an 8-K filed by Iron Mountain today, April 21, 2016.
About Iron Mountain
Iron Mountain Incorporated (NYSE:
IRM) is a leading provider of storage and information management
services. The company’s real estate network of more than 69 million
square feet across more than 1,100 facilities in 37 countries allows it
to serve customers around the world. And its solutions for records
management, data
management, document
management, and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information.
Founded in 1951, Iron Mountain stores and protects billions of
information assets, including business documents, backup tapes,
electronic files and medical data. Visit www.ironmountain.com
for more information.
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Source: Iron Mountain