18 agos 1999 año - the Board of Directors of DIC authorized Dr. Turbowicz to negotiate Merger Consideration

Descripción:

On August 18, 1999, the Board of Directors and audit committee of DIC authorized Dr. Turbowicz to negotiate with Mr. Arnow regarding Merger Consideration in excess of $30 per Share. Later that day, during a telephoneconference, Dr. Turbowicz and Mr. Arnow agreed on an increase of the MergerConsideration to $36.50 per Share, subject to Mr. Arnow's consultation withMerrill Lynch. Mr. Arnow then met with representatives of Merrill Lynch andSkadden, Arps by conference telephone, at