Tumi Stockholders On Board with Samsonite Acquisition Plan

On Jul 13, 2016

South Plainfield-based Tumi Holdings, Inc. announced that its stockholders have voted to adopt the previously announced Agreement and Plan of Merger with Samsonite International S.A. Samsonite will acquire Tumi through an indirect wholly-owned subsidiary of Samsonite.

Approximately 96.8 percent of the votes cast at today’s special meeting of stockholders voted in favor of the adoption of the Merger Agreement. This represents approximately 88.5 percent of Tumi’s total outstanding shares of common stock as of the June 3, 2016 record date and constitutes a majority of the outstanding shares of Tumi common stock entitled to vote at the special meeting, as required to adopt the Merger Agreement under the General Corporation Law of the State of Delaware. A quorum of 91.3 percent of Tumi’s total outstanding shares of common stock as of the June 3, 2016, record date voted at the special meeting.

In addition, approximately 97.8 percent of votes cast by Tumi stockholders at the special meeting approved, by means of a non-binding, advisory basis, specified compensation that may become payable to Tumi’s principal executive officer and principal financial officer, in addition to Tumi’s other three most highly compensated executive officers, in connection with the merger.

Upon completion of the merger, Tumi’s stockholders will be entitled to receive $26.75 in cash, without interest, for each share of Tumi’s common stock that such stockholder owns. The merger, which is expected to be completed in the second half of 2016, is subject to the receipt of approval by Samsonite shareholders, and the satisfaction of certain remaining customary closing conditions as set forth in the Merger Agreement and discussed in detail in the definitive proxy statement filed with the U.S. Securities and Exchange Commission by Tumi on June 3, 2016.

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