Alexandria, Va.-based Cuisine Solutions has received a proposal from Stanislas Vilgrain and the members of the Vilgrain family to purchase all of the outstanding shares of the company not already owned by him, his family members, and their affiliates for US$0.81 per share in cash.
Vilgrain is the president and CEO of Cuisine Solutions. He stated that he, the members of his family, and their affiliates currently own approximately 62.5% of the outstanding shares of Cuisine Solutions, and that since the Vilgrain family and its affiliates have no interest in selling this stock, these shares will not go on the market.
The company’s board of directors has formed a Special Committee to consider the proposal, comprising of Charles McGettigan (chairman), David Jordan, and Robert van Roijen, each of whom is independent of Vilgrain and the Vilgrain family and their affiliates.
The Special Committee has retained Hogan & Hartson LLP and Bengur Bryan & Co as its legal and financial advisors, respectively.