Specialty Catalog Now Privately Held

South Easton, MA–The stockholders of Specialty Catalog Corp., (Nasdaq: CTLG), which mails the Paula Young catalog, approved and adopted a merger agreement to take the company private through a sale to Specialty Acquisition Corp., a corporation formed by several shareholders of the company. The announcement came during a special Nov. 6 stockholders meeting.

The merger agreement provides for a cash merger in which the holders, other than Specialty Acquisition Corp., of common stock of Specialty Catalog Corp. immediately prior to the merger receive $3.75 per share in cash. The merger remains subject to the satisfaction of a number of closing conditions, including, but not limited to, the consummation of financing transactions.

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