PEORIA, Ill.-Rohn Industries Inc. said its previously announced merger with PiRod Holdings
Inc., which was expected to close in the first quarter, has been postponed because of current adverse industry
conditions.
Rohn said continued slowdown in the buildout of wireless telephone systems is affecting the results of
operations of both companies, which is impacting the amount and type of financing appropriate for the proposed
transaction. Rohn is continuing discussions with PiRod and its affiliate, Bain Capital Inc., concerning a possible
restructuring of the transaction.
Rohn announced the original merger Dec. 23, under which PiRod would be merged
into Rohn and up to 52.5 percent of the outstanding Rohn shares would be converted into the right to receive $3.78 per
share in cash to be financed by $166.5 million in new senior debt.
