EX-99.(C)(2) 3 dex99c2.htm PRESENTATION OF CIBC WORLD MARKETS CORP.,DATED FEBRUARY 14, 2005 PRESENTATION OF CIBC WORLD MARKETS CORP.,DATED FEBRUARY 14, 2005

Exhibit (c)(2)

 

HIGHLY CONFIDENTIAL

 

Project Orb

 

Discussion Materials

 

February 14, 2005

 

LOGO

 

 


Three-Year Price / Volume Graph

 

February 11, 2002 – February 11, 2005

 

LOGO

 

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

2

 


One-Year Price / Volume Graph

 

February 10, 2004 – February 11, 2005

 

LOGO

 

Price Analysis

 

Closing Prices


    

Average Prices


Last (2/11/05)

   $ 15.06      Two Weeks    $ 15.15

52-Week High (6/25/04)

   $ 20.75      Four Weeks    $ 15.09

52-Week Low (3/11/04)

   $ 14.31      Six Weeks    $ 15.65

52-Week Mean

   $ 17.75      Twelve Weeks    $ 17.17

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

3

 


One-Year Trading History

 

February 10, 2004 – February 11, 2005

 

% of Volume Traded

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Shares O/S

 

20,347,740

 

Total Shares Traded

 

38,396,220

 

Average Daily Volume

 

150,573

  

 

 

 

LOGO

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

4

 


Multiple and Premium Matrix

 

LOGO

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

5

 


Publicly Traded Comparable Companies

 

LOGO

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

6

 


Precedent Merger and Acquisition Transactions

 

LOGO

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

7

 


Premiums Paid Analysis Summary

 

  Search parameters include:

 

    Public transactions announced from January 1, 2003 to present

 

    Total enterprise value at announcement of $300 - $800 million

 

    All-cash consideration

 

Premiums Paid Summary

 

     Premiums Paid

     1 Day Prior

   1 Week Prior

   4 Weeks Prior

75th Percentile

   32.8%    33.7%    45.0%

Median

   19.3%    22.5%    26.1%

25th Percentile

   11.6%    13.5%    16.9%

Mean

   23.3%    25.7%    31.9%

 

LOGO   

DISCUSSION MATERIALS / February 14, 2005

 

  

8