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Asset Acceptance Capital Corp. Announces Alternative Takeover Proposal Not to Move Forward & Early Termination of the Hart-Scott

  Asset Acceptance Capital Corp. Announces Alternative Takeover Proposal Not
  to Move Forward & Early Termination of the Hart-Scott-Rodino Waiting Period
  for Acquisition by Encore Capital Group, Inc.

      AACC-Encore Merger Expected to Close in the Second Quarter of 2013

Business Wire

WARREN, Mich. -- April 11, 2013

Asset Acceptance Capital Corp. (Nasdaq: AACC) announced today that the third
party (identified as “Company B” in the Registration Statement on Form S-4,
file No. 333-187581, filed by Encore Capital Group, Inc., a Delaware
corporation, with the Securities and Exchange Commission on March 27, 2013)
who had submitted a preliminary written indication of interest concerning an
alternative to the transactions contemplated by the previously announced
Agreement and Plan of Merger with Encore and Pinnacle Sub, Inc. (a Delaware
corporation and wholly owned subsidiary of Encore), dated as of March 6, 2013
(the “Merger Agreement”) informed Asset Acceptance on April 10, 2013 that it
would be unable to submit a Superior Proposal (as that term is defined in the
Merger Agreement) and of its determination not to move forward with its
proposal.

As previously announced, Asset Acceptance has agreed under the Merger
Agreement to be acquired by Encore for $6.50 a share, which represents a total
equity value of approximately $200 million. Asset Acceptance shareholders will
have the option to receive their consideration in cash or Encore stock or any
combination of cash and Encore stock, at their election, with the aggregate
stock consideration across all stockholders capped at 25% of the total
consideration to be received. Asset Acceptance’s Board of Directors has
approved the Merger Agreement with Encore, and Asset Acceptance and Encore are
proceeding with the transaction. The closing of the merger with Encore, which
is expected to be completed during the second quarter of 2013, is subject to
the approval of Asset Acceptance’s stockholders at a to-be-scheduled  special
meeting and other customary closing conditions.

In addition, Asset Acceptance also announced today that its request for early
termination of the waiting period with respect to the filings made under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended in connection
with the proposed merger pursuant to the Merger Agreement has been granted
and, therefore, such waiting period has ended and the related closing
condition set forth in the Merger Agreement has been satisfied.

About Asset Acceptance Capital Corp.

For over 50 years, Asset Acceptance has provided credit originators, such as
credit card issuers, consumer finance companies, retail merchants, utilities
and others an efficient alternative in recovering defaulted consumer debt. For
more information, please visit www.AssetAcceptance.com.

Additional Information and Where to Find It

THIS PRESS RELEASE IS NOT A REQUEST FOR OR SOLICITATION OF A PROXY OR AN OFFER
TO ACQUIRE ANY SHARES OF THE COMMON STOCK OF ASSET ACCEPTANCE. IN CONNECTION
WITH THE  PROPOSED TRANSACTION WITH ENCORE, ENCORE FILED A REGISTRATION
STATEMENT ON FORM S-4 WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) ON
MARCH 27, 2013 CONTAINING ASSET ACCEPTANCE’S INITIAL PROXY STATEMENT AND ASSET
ACCEPTANCE INTENDS TO FILE A DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT
MATERIALS WITH THE SEC ONCE THE REGISTRATION STATEMENT IS DECLARED EFFECTIVE.
A DEFINITIVE PROXY STATEMENT WILL BE SENT TO ASSET ACCEPTANCE’S STOCKHOLDERS
SEEKING THEIR APPROVAL OF THE PROPOSED TRANSACTION. BEFORE MAKING ANY VOTING
DECISION, ASSET ACCEPTANCE’S STOCKHOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT (AND THE ASSET ACCEPTANCE'S PROXY STATEMENT CONTAINED THEREIN) IN
ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED
WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY
REFERENCE IN THE REGISTRATION STATEMENT BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED MERGER AND THE PARTIES TO THE MERGER. ASSET
ACCEPTANCE’S STOCKHOLDERS WILL BE ABLE TO OBTAIN THESE DOCUMENTS (WHEN
AVAILABLE) FREE OF CHARGE AT THE SEC’S WEB SITE, HTTP://WWW.SEC.GOV. IN
ADDITION, THEY MAY OBTAIN FREE COPIES OF THESE BY CONTACTING ASSET ACCEPTANCE
CAPITAL CORP. BY MAIL ADDRESSED TO 28405 VAN DYKE AVENUE, WARREN, MICHIGAN
48093, ATTENTION: MARY ARRAF, BY TELEPHONE AT (586) 939-9600 (OPTION 5) OR VIA
ELECTRONIC MAIL TO IR@ASSETACCEPTANCE.COM. ASSET ACCEPTANCE’S STOCKHOLDERS
ALSO MAY READ AND COPY ANY REPORTS, STATEMENTS AND OTHER INFORMATION FILED
WITH THE SEC AT THE SEC PUBLIC REFERENCE ROOM AT 100 F STREET, N.E.,
WASHINGTON, D.C. 20549. PLEASE CALL THE SEC AT 1-800-SEC-0330 OR VISIT THE
SEC’S WEBSITE FOR FURTHER INFORMATION ON ITS PUBLIC REFERENCE ROOM.

ASSET ACCEPTANCE AND ITS DIRECTORS, EXECUTIVE OFFICERS AND CERTAIN OTHER
MEMBERS OF MANAGEMENT AND EMPLOYEES OF ASSET ACCEPTANCE MAY BE DEEMED
“PARTICIPANTS” IN THE SOLICITATION OF PROXIES FROM STOCKHOLDERS OF ASSET
ACCEPTANCE IN FAVOR OF THE PROPOSED MERGER. INFORMATION REGARDING THE PERSONS
WHO MAY, UNDER THE RULES OF THE SEC, BE CONSIDERED PARTICIPANTS IN THE
SOLICITATION OF THE STOCKHOLDERS OF ASSET ACCEPTANCE IN CONNECTION WITH THE
PROPOSED MERGER WILL BE SET FORTH IN THE REGISTRATION STATEMENT AND THE OTHER
RELEVANT DOCUMENTS TO BE FILED WITH THE SEC. YOU CAN FIND INFORMATION ABOUT
ASSET ACCEPTANCE’S EXECUTIVE OFFICERS AND DIRECTORS IN ITS ANNUAL REPORT ON
FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012, WHICH WAS FILED ON
MARCH 7, 2013 AND IN ITS DEFINITIVE PROXY STATEMENT FOR ITS 2012 ANNUAL
MEETING OF STOCKHOLDERS FILED WITH THE SEC ON SCHEDULE 14A ON MARCH 28, 2012.

This document shall not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the U.S. Securities Act
of 1933, as amended.

Forward Looking Statements

The statements in this press release that are not historical facts, including,
most importantly, those statements preceded by, or that include, the words
"may," "believe," "projects," "expects," "anticipates" or the negation
thereof, or similar expressions, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995
(the "Reform Act"). These statements may include, but are not limited to,
statements regarding our future operating results, performance, business plans
or prospects. For all "forward-looking statements," Asset Acceptance claims
the protection of the safe harbor for forward-looking statements contained in
the Reform Act. Such forward-looking statements involve risks, uncertainties
and other factors which may cause actual results, performance or achievements
of Asset Acceptance and its subsidiaries to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. These risks, uncertainties and other factors are
discussed in the reports filed by Asset Acceptance with the Securities and
Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and
8-K, each as it may be amended from time to time. Asset Acceptance disclaims
any intent or obligation to update these forward-looking statements.

Contact:

Asset Acceptance Investor Relations
Mary Arraf, 586-983-7087
marraf@assetacceptance.com