MARYSVILLE, Ohio--(BUSINESS WIRE)--Oct. 2, 1998--The Scotts Company (the "Company") (NYSE: SMG) announced today that, as a result of current market conditions, it has deferred its decision regarding acceptance for purchase with respect to its 9-7/8% Senior Subordinated Notes due August 1, 2004 (the
As of 5:00 p.m., New York City time, on October 1, 1998, the Company had received consents and tenders from registered holders representing more than 96% of the $100 million outstanding principal amount of the Notes.
Notes tendered pursuant to the tender offer (and the related consents) may be withdrawn at any time prior to the extended consent payment deadline. Requests for documents may be directed to Chase Mellon Shareholder Services, the information agent, at 800-851-9671. Questions regarding the tender and consent solicitation may be directed to Salomon Smith Barney Inc., Liability Management Group, the dealer manager for the tender offer, at 800-558-3745.
The Scotts Company is a leading supplier of consumer products for the lawn and garden care, professional turf care and professional horticulture businesses in both the U.S. and U.K., and is expanding operations in other international businesses. The Company owns what are by far the industry's most recognized brands. In the U.S. lawn care business, consumer awareness of the Company's Scotts(R) family of brands outscore the nearest competitor by about 6-to-8 times, as does awareness of the company's Miracle-Gro(R) family of brands in the U.S. garden care business. In the U.K., the Company's brands include Weedol(R) and Pathclear(R), the top-selling consumer herbicides, Evergreen(R), the leading lawn fertilizer line, the Levington(R) line of lawn and garden products, and Miracle-Gro(R), the leading plant fertilizer.
This announcement is neither an offer to purchase nor a solicitation of an offer to sell the Notes nor a solicitation of consents. The offer is made solely through the Offer to Purchase and Consent Solicitation Statement, dated September 3, 1998, and the related Letter of Transmittal and Consent. The offer is not being made to, nor will tenders or consents be accepted from or on behalf of, holders of the Notes in any jurisdiction where the making of the offer or the acceptance thereof would not be in compliance with the laws of such jurisdiction. In those jurisdictions where securities, blue sky, or other laws require the offer to be made by a licensed broker or dealer, the offer shall be deemed to be made on behalf of Scotts by Salomon Smith Barney Inc. or one of the registered brokers or dealers licensed under the laws of such jurisdiction. ### Contact: William Jenks Rebecca Bruening Broadgate Consultants, Inc. The Scotts Company 212-232-2222 937-644-7290