Company: SSUP
Filing Date: 2025-08-15
Form Type: DEFM14A
Source: 0001140361-25-031532
Chunk: 59

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-08-15
Form: DEFM14A
Chunk 59
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 commercial relationships resulting from bankruptcy and (5) the Transaction Committee’s and the Board’s assessment that, besides a filing under chapter 11 of the Bankruptcy Code, none of the alternatives considered by the Transaction Committee and the Board were reasonably likely to be capable of being consummated prior to the Company’s liquidity need creating the need to file under chapter 11 of the Bankruptcy Code than the Transactions. |

| • | Negotiation Process. The Transaction Committee and the Board considered the fact that the terms of the Merger Agreement were the result of arm’s-length negotiations conducted by the Company with the assistance of its financial advisor and outside legal counsel. |

| • | Capital Structure. The Transaction Committee and the Board considered the fact that, as a result of implementing the Transactions through an out-of-court structure, the Company’s funded debt (including the Series A Preferred Shares) is expected to be reduced by nearly 90%, which will provide the Company with the financial stability to execute on its strategic plan and growth strategies. |

| • | Terms of the Merger Agreement and Flexibility for a Superior Proposal. The Transaction Committee and the Board considered the terms and conditions of the Merger Agreement, including: |

| • | the Company’s right, in response to a bona fide acquisition proposal and subject to certain conditions, to (i) contact and engage in discussions with the person who made such acquisition proposal to clarify the terms of such acquisition proposal or notify such person of the “no solicitation” provision in the Merger Agreement, (ii) provide access to non-public information regarding the Company to such person, provided such person enters into an acceptable confidentiality agreement with the company and (iii) engage or participate in any discussions or negotiations with any such person regarding such acquisition proposal; provided, before taking the actions described in (i) and (ii) above, the Board determines in good faith after consultation with its outside legal counsel that (a) after consultation with its financial advisors, the acquisition proposal either constitutes a superior proposal or could reasonably be expected to lead to a superior proposal and (b) the failure to take such action would reasonably be expected to be inconsistent with the directors’ fiduciary duties; |

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| • | the provisions allowing the Board to make a Change in Recommendation prior to obtaining stockholder approval of the Merger Agreement Proposal in specified circumstances relating to a superior proposal or an intervening event; subject to Parent’s right to terminate the Merger Agreement; |

| • | the provision allowing the Board to