USA: Hartmarx Reiterates Request For Basic Information
Raymond F. Farley, chairman of the ad hoc committee of independent directors of the board of directors of Hartmarx Corporation (NYSE: news), today sent the following letter to Spencer Hays of The Lincoln Company LLC: August 23, 2001 Mr. Spencer Hays The Lincoln Company LLC c/o Neuberger, Quinn, Gielen, Rubin & Gibber, P.A. One South Street, 27th Floor Baltimore, Maryland, 21202 Dear Mr. Hays: Enclosed with this letter is a confidentiality agreement between Lincoln and Hartmarx which you indicated a need for and which will enable you to provide us with the basic information about Lincoln and your offer that Hartmarx has requested twice but not yet received. I assume that once you have signed this agreement, you will provide the requested information in writing. The Lincoln Company LLC appears to be a newly formed entity and there is no publicly available information regarding it. Your letter of August 13, 2001 states that you "have arranged financing" for the transaction. Your letter of August 22, 2001 states that "$70 million of cash equity is already committed." Although we have received these general assurances, we await your deliver of these financing commitments as well as the other requested information about Lincoln, necessary due diligence and an acquisition agreement. Our duties as directors require us to receive and review this information before determining whether and how to proceed with your proposal. I understand your desire to move forward as expeditiously as possible. The sooner you provide the information requested, the sooner we will be in a position to proceed. Sincerely, Raymond F. Farley Chairman of the ad hoc committee of Independent Directors
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