Exhibit (a)(1)(N)
MINOLTA COMPLETES TENDER OFFER FOR MINOLTA-QMS, INC. SHARES
Osaka, Japan-November 8, 2000--Minolta Co., Ltd. (Tokyo Stock Exchange: 7753)
announced today that Minolta Investments Company, its wholly-owned subsidiary,
has successfully completed its $6.00 per share cash tender offer for all of the
outstanding shares of Minolta-QMS, INC. (NYSE:MQC).
The offer expired at 5:00 p.m. New York City time, on Tuesday, November 7, 2000.
As of the expiration of the offer, based on information provided by ChaseMellon
Shareholder Services, L.L.C., the Depositary for the offer, 4,865,351 shares had
been tendered and not withdrawn (including guarantees of delivery), representing
approximately 37% of the outstanding Minolta-QMS shares. Following acceptance
and purchase of the tendered shares, Minolta, through its subsidiary, will own
approximately 94% of the outstanding Minolta-QMS shares.
Pursuant to the terms of the offer, Minolta Investments Company intends to
accept and purchase all the tendered shares for $6.00 per share in cash. Shortly
following such acceptance and payment, the merger of Minolta Investments Company
with and into Minolta-QMS is expected to be consummated pursuant to the
short-form merger provisions of the Delaware General Corporation Law, whereby
Minolta-QMS will become a wholly-owned subsidiary of Minolta Co., Ltd.
In the merger, each share of Minolta-QMS' common stock not already owned by
Minolta or Minolta Investments Company will be converted into the right to
receive $6.00 in cash. Shortly following the merger, materials will be mailed to
Minolta-QMS stockholders whose shares were not tendered, along with a letter of
transmittal that will provide instructions for receiving the $6.00 per-share
cash payment.
MINOLTA CO., LTD. CONTACT:
Dan Gallagher
Director of Communications
Minolta Corporation
(201) 934-5371
