The decision was compelled by a temporary injunctionissued by the Chancery Court for Knox County, TNregarding fees associated with shareholder litigationbrought against the regional department store chain.
As a result of $1 million contingency, the $9.60 pershare offer price offered by GMM Capital and PrenticeCapital will be reduced by approximately 3 centsper share.
Additionally, the joint venture has extended itsbuyout offer until Dec. 27, 2005. The offer hadpreviously been scheduled to expire on Dec. 12, 2005.To date, roughly 79.3% of Goody's 33.2 millionoutstanding shares had voted for the acquisition.
GMM Capital and Prentice Capital's offer was one ofthree competing bids for the Goody's, which currentlyoperates 381 stores in 21 states across the South and southeastern United States.
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