The effect of the second request is to extend the waiting period
imposed by the HSR Act until thirty (30) days after Hanover and
Universal have substantially complied with the second request, unless
that period is extended voluntarily by the parties or terminated
sooner by the DOJ. Issuance of a second request is not unusual for a
transaction of this size, and the companies intend to cooperate fully
and respond promptly.
Hanover and Universal remain optimistic that the merger will
proceed and still expect a closing within the originally stated time
frame of the third quarter of 2007.
About Hanover Compressor Company
Hanover Compressor Company, headquartered in Houston, Texas, is a
global market leader in full service natural gas compression and a
leading provider of service, fabrication and equipment for oil and
natural gas production, processing and transportation applications.
More information can be found at www.hanover-co.com.
About Universal Compression Holdings, Inc.
Universal Compression Holdings, Inc., headquartered in Houston,
Texas, is a leading natural gas compression services company,
providing a full range of contract compression, sales, operations,
maintenance, and fabrication services to the domestic and
international natural gas industry. Additional information is
available at Universal's website, www.universalcompression.com.
Forward-Looking Statements
Statements about Hanover's and Universal's outlook and all other
statements in this release other than historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements rely on a number of assumptions concerning future events
and are subject to a number of uncertainties and factors, many of
which are outside Hanover's and Universal's control, which could cause
actual results to differ materially from such statements. Forward
looking information includes, but is not limited to, statements
regarding whether and when the transactions contemplated by the merger
agreement will be consummated. Among the factors that could cause
results to differ materially from those indicated by such
forward-looking statements are the result of the review of the
proposed merger by various regulatory agencies and any conditions
imposed on the new company in connection with consummation of the
merger; failure to receive the approval of the merger by the
stockholders of Hanover and Universal and satisfaction of various
other conditions to the closing of the merger contemplated by the
merger agreement. These forward-looking statements are also affected
by the risk factors, forward-looking statements and challenges and
uncertainties described in Hanover's Annual Report on Form 10-K for
the twelve months ended December 31, 2006 and Universal's Annual
Report on Form 10-K for the twelve months ended December 31, 2006, and
those set forth from time to time in Hanover's and Universal's filings
with the Securities and Exchange Commission, which are available
through Hanover's and Universal's websites at
http://www.hanover-co.com and www.universalcompression.com. Hanover
and Universal expressly disclaim any intention or obligation to revise
or update any forward-looking statements whether as a result of new
information, future events, or otherwise.
Additional Information
In connection with the proposed merger, a registration statement
of the new company, Iliad Holdings, Inc., which will include proxy
statements of Universal Compression Holdings, Inc. and Hanover
Compressor Company, and other materials, will be filed with the
Securities and Exchange Commission. INVESTORS AND SECURITY HOLDERS ARE
URGED TO CAREFULLY READ THE REGISTRATION STATEMENT AND THE PROXY
STATEMENT/PROSPECTUS AND THESE OTHER MATERIALS REGARDING THE PROPOSED
MERGER WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT UNIVERSAL, HANOVER, ILIAD HOLDINGS AND THE PROPOSED
TRANSACTION. Investors and security holders may obtain a free copy of
the registration statement and the proxy statement/prospectus when
they are available and other documents containing information about
Universal and Hanover, without charge, at the SEC's web site at
www.sec.gov, Universal's web site at www.universalcompression.com, and
Hanover's web site at www.hanover-co.com. Copies of the registration
statement and the proxy statement/prospectus and the SEC filings that
will be incorporated by reference therein may also be obtained for
free by directing a request to either Investor Relations, Universal
Compression Holdings, Inc., 713-335-7000 or to Investor Relations,
Hanover Compressor Company, 832-554-4856.
Participants in Solicitation
Hanover Compressor Company and Universal Compression Holdings,
Inc. and their respective directors, officers and certain other
members of management may be deemed to be participants in the
solicitation of proxies from their respective stockholders in respect
of the merger. Information about these persons can be found in
Hanover's and Universal's respective proxy statements relating to
their 2006 annual meetings of stockholders as filed with the SEC on
March 24, 2006 and March 15, 2006, respectively. Additional
information about the interests of such persons in the solicitation of
proxies in respect of the merger will be included in the registration
statement and the proxy statement/prospectus to be filed with the SEC
in connection with the proposed transaction.
SOURCE: Hanover Compressor Company
Hanover Compressor Company
Lee E. Beckelman, 281-405-5194
Senior Vice President and Chief Financial Officer
or
Stephen P. York, 832-554-4856
Vice President, Investor Relations & Technology
or
Universal Compression Holdings, Inc.
J. Michael Anderson, 713-335-7295
Senior Vice President and Chief Financial Officer
or
David Oatman, 713-335-7460
Vice President, Investor Relations