SHELTON, Conn., June 25 /PRNewswire-FirstCall/ -- Clayton Holdings, Inc.
(Nasdaq: CLAY) announced today that, at a special meeting of its stockholders,
the holders of a majority of the outstanding shares of common stock of Clayton
approved and adopted the previously announced definitive merger agreement
under which an affiliate of a fund managed by Greenfield Partners, LLC, a
private equity firm, will acquire all of the outstanding common shares of
Clayton Holdings for $6.00 per share, or approximately $134 million, plus the
repayment of $23.8 million of debt. Clayton also announced that the merger is
expected to close on or about July 2, 2008, and that it has obtained all
necessary regulatory consents and licenses required to close the transaction
on such date.
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About Clayton Holdings, Inc.
Clayton Holdings, Inc., headquartered in Shelton, Connecticut, is an
information and analytics company serving leading capital markets firms,
lending institutions, fixed income investors and loan servicers with a full
suite of information-based analytics, specialty consulting and outsourced
services. Clayton's services include due diligence analytics, conduit support
services, professional staffing, compliance products and services, credit risk
management and surveillance and specialized loan servicing services.
Additional information is available at www.clayton.com.
Forward Looking Statements
Certain items in this press release may constitute forward-looking
statements within the meaning of the 'safe harbor' provisions of the Private
Securities Litigation Reform Act of 1995. These statements are based on
management's current expectations and beliefs and are subject to a number of
trends and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Clayton can give no
assurance that expectations will be attained. Factors that could cause actual
results to differ materially from Clayton's expectations include, but are not
limited to, the ability to complete the merger in light of the various closing
conditions, including those conditions related to regulatory approvals; the
expected timing of the completion of the merger; the impact of the
announcement or the closing of the merger on Clayton's relationships with its
employees, existing customers or potential future customers; adverse changes
in the mortgage-backed securities market, the mortgage lending industry or the
housing market; the level of competition for Clayton's services; the loss of
one or more of Clayton's largest clients; Clayton's ability to maintain its
professional reputation; management's ability to execute Clayton's business
strategy; and other risks detailed in Clayton's Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 14, 2008 and other
reports filed with the Securities and Exchange Commission. Such
forward-looking statements speak only as of the date of this press release.
Clayton expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to
reflect any change in Clayton's expectations with regard thereto or change in
events, conditions, or circumstances on which any such statement is based.
SOURCE Clayton Holdings, Inc.
