BOWLIN OUTDOOR ADVERTISING & TRAVEL CENTERS INC
8-K, EX-99.1, 2001-01-19
MISC GENERAL MERCHANDISE STORES
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                                                                    Exhibit 99.1


       BOWLIN Outdoor Advertising & Travel Centers Incorporated Announces
     Stockholders Approve Merger With Lamar Advertising Company Transaction
                     Valued at Approximately $46.4 Million

ALBUQUERQUE, N.M., Jan. 19 /PRNewswire/ -- BOWLIN Outdoor Advertising & Travel
Centers Incorporated (Amex: BWN - news), announced that its stockholders
approved the previously announced merger with Lamar Advertising Company (Nasdaq:
LAMR - news) at a special meeting of stockholders held today at the company's
headquarters in Albuquerque, New Mexico. In the transaction valued at
approximately $46.4 million, shareholders of BOWLIN Outdoor Advertising & Travel
Centers Incorporated will receive a total of 725,000 shares of Lamar Advertising
Company (Lamar) common stock. Based on the closing price of Lamar's common stock
on January 18, 2001 of $44.0625 per share, the aggregate value of the 725,000
shares is $31.9 million. Lamar also will assume $14.5 million of the company's
long-term debt, resulting in a total transaction value of $46.4 million. The
final value of the transaction is subject to the closing price of Lamar's common
stock on the effective date of the merger.

The company announced that it had entered into an agreement and plan of merger
with Lamar on October 4, 2000. Under the terms of the agreement and plan of
merger, stockholders of the company will receive 0.15818 shares of Lamar
Advertising Company common stock for each outstanding share of BOWLIN Outdoor
Advertising & Travel Centers Incorporated common stock. The company anticipates
consummating the merger on or about January 31, 2001. The merger does not
include the company's wholly owned subsidiary, Bowlin Travel Centers, Inc.

The company previously announced its plans to spin off Bowlin Travel Centers in
a dividend distribution. The company anticipates distributing one share of
Bowlin Travel Centers common stock on January 30, 2001 for each share of BOWLIN
Outdoor Advertising & Travel Centers Incorporation common stock outstanding on
January 20, 2001. If stockholders sell their shares of the company between
January 20 (the record date for the spin-off) and January 30, 2001, the sale
will include the right to receive the shares of Bowlin Travel Centers to be
distributed as a dividend on those shares. On or about January 22, 2001, the
company anticipates distributing an information statement to its stockholders.
Stockholders are encouraged to read the information statement carefully. It
contains important information about the spin-off and about Bowlin Travel
Centers.

BOWLIN Outdoor Advertising & Travel Centers Incorporated, a regional leader in
non-metro markets for outdoor advertising displays, provides a full range of
service that includes sales, design, production and installation. Bowlin Travel
Centers, Inc. operates travel centers strategically located on major interstate
highways that utilize co-branding agreements with national companies. The
company's current operations are located in the Southwestern United States.

BOWLIN Outdoor Advertising & Travel Centers Incorporated and Bowlin Travel
Centers, Inc., each file reports with the Securities and Exchange Commission.
Filings can be viewed at www.sec.gov.

Certain statements contained herein with respect to factors which may affect
future earnings, including management's beliefs and assumptions based on
information currently available, are forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements that are not historical facts involve
risks and uncertainties, and results could vary materially from the descriptions
contained herein. For more details on risk factors, see the company's annual
reports on Form 10-K, quarterly reports on Form 10-Q and other filings with the
Securities and Exchange Commission.



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