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PITTSBURGH, May 4, 2017 /PRNewswire/ -- Michael Baker International, LLC ("Michael Baker International") announced today that it has terminated its previously announced tender offer to purchase for cash (the "Tender Offer") any and all of the $350 million aggregate principal amount outstanding of its 8.250% Senior Secured Notes due 2018 (the "Notes") issued by it and Michael Baker International Holdco Corporation (formerly known as Michael Baker Corporation, as successor by merger to CDL Acquisition Co. Inc.) and a solicitation of consents (the "Consent Solicitation") for proposed amendments to the related indenture. All Notes that have been validly tendered (and not validly withdrawn) will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Tender Offer for any tendered Notes or the Consent Solicitation for any consents. Accordingly, the amendments that are contained in the supplemental indenture that was executed in connection with the Consent Solicitation will not become operative. Consummation of the Tender Offer and the Consent Solicitation were subject to the satisfaction or waiver of the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated as of April 7, 2017 (the "Offer to Purchase and Consent Solicitation Statement"), including the financing condition described therein, certain of which were not satisfied.  This press release confirms the termination of the Tender Offer and Consent Solicitation.


As of the consent payment deadline of 5:00 p.m., New York City time, on April 20, 2017 (the "Consent Payment Deadline"), approximately $277 million (79.17% outstanding) aggregate principal amount of the outstanding Notes had been validly tendered (and not validly withdrawn), excluding any Notes owned by Michael Baker International or its affiliates. Holders of Notes that were validly tendered (and not validly withdrawn) prior to the Consent Payment Deadline and accepted for purchase will receive total consideration of $1,046.25 per $1,000 principal amount of Notes validly tendered (and not validly withdrawn) and accepted for purchase, which includes a consent payment of $30 per $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the expected initial settlement date of May 1, 2017, which purchase is subject to the satisfaction (or the waiver by Michael Baker International) of certain conditions described in the Offer to Purchase and Consent Solicitation Statement under "Conditions to Consummation of the Tender Offer and the Consent Solicitation." Pursuant to the Consent Solicitation, Michael Baker International solicited from holders of the Notes consents to (i) amendments to the indenture governing the Notes that would eliminate most of the covenants (other than, among other covenants, the covenant to pay interest and premium, if any, on, and principal of, the Notes when due), certain events of default applicable to the Notes and certain other provisions contained in such indenture and the Notes (the "Majority Consent Amendments") and (ii) the release of the liens on the assets that secure the Notes, the guarantees with respect to the Notes and the indenture and make any amendments to the indenture and related security agreements necessary to effect the release of the liens securing the Notes (the "Supermajority Consent Amendments"). Adoption of the Majority Consent Amendments required the consent of the holders of at least a majority of the outstanding principal amount of the Notes (excluding any Notes owned by Michael Baker International or its affiliates). Adoption of the Supermajority Consent Amendments required the consent of the holders of at least 66⅔% of the outstanding principal amount of the Notes (excluding any Notes owned by Michael Baker International or its affiliates). The Consent Solicitation received consents representing 79.17 % of the outstanding aggregate principal amount of the Notes (excluding any Notes owned by Michael Baker International or its affiliates) and a supplemental indenture reflecting the Majority Consent Amendments and the Supermajority Consent Amendments to the indenture governing the Notes has been executed; provided that such amendments will not become operative until Michael Baker International purchases the Notes that were validly tendered (and not validly withdrawn) prior to the Consent Payment Deadline and accepted for purchase. Holders of Notes that are validly tendered (and not validly withdrawn) after the Consent Payment Deadline, but prior to the expiration of the Tender Offer, and accepted for purchase will receive the tender offer consideration of $1,016.25 per $1,000 principal amount of Notes, plus any accrued and unpaid interest up to, but not including, the final settlement date, which is expected to be May 5, 2017.  Holders of Notes tendered after the Consent Payment Deadline and accepted for purchase will not receive a consent payment. Consummation of the Tender Offer and the Consent Solicitation are subject to the satisfaction or waiver of the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, including the financing condition and the supplemental indenture condition, each as described therein.  Michael Baker International may amend, extend or terminate the Tender Offer and the Consent Solicitation in its sole discretion. This news release is neither an offer to purchase nor a solicitation of an offer to sell any Notes.  The Tender Offer and the Consent Solicitation are being made only pursuant to the Offer to Purchase and Consent Solicitation Statement and related letter of transmittal, copies of which will be delivered to holders of the Notes.  Persons with questions regarding the Tender Offer and the Consent Solicitation should contact the following dealer manager —Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect) — or the Information Agent, D.F. King & Co., at (888) 644-6071 (toll free) or (212) 269-5550 (collect). Michael Baker International is a global leader in engineering, planning, consulting, and professional services. Supported by approximately 6,750 employees in 90 offices worldwide, Michael Baker International provides the full continuum of engineering, consulting, base operations, security management, systems integration, intelligence operations support and analysis, and information technology solutions. Some of the statements in this release may constitute forward-looking statements. Such statements are based on Michael Baker International's current expectations and could be affected by numerous factors and are subject to various risks and uncertainties. Do not rely on any forward-looking statement, as Michael Baker International cannot predict or control many of the factors that ultimately may affect Michael Baker International's ability to achieve any expected results. Michael Baker International makes no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/michael-baker-international-llc-announces-early-results-of-its-tender-offer-for-8250-senior-secured-notes-due-2018-and-solicitation-of-consents-for-proposed-amendments-to-the-related-indenture-300443276.html


The Tender Offer and the Consent Solicitation are being made pursuant to the Offer to Purchase and Consent Solicitation Statement, and related consent and letter of transmittal. The Tender Offer will expire at 12:00 midnight (end of day), New York City time, on May 4, 2017. This news release is neither an offer to purchase nor a solicitation of an offer to sell any Notes.  The Tender Offer and the Consent Solicitation are being made only pursuant to the Offer to Purchase and Consent Solicitation Statement and related letter of transmittal, copies of which will be delivered to holders of the Notes.  Persons with questions regarding the Tender Offer and the Consent Solicitation should contact the following dealer manager —Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect) — or the Information Agent, D.F. King & Co., at (888) 644-6071 (toll free) or (212) 269-5550 (collect). Michael Baker International is a global leader in engineering, planning, consulting, and professional services. Supported by approximately 6,750 employees in 90 offices worldwide, Michael Baker International provides the full continuum of engineering, consulting, base operations, security management, systems integration, intelligence operations support and analysis, and information technology solutions. Some of the statements in this release may constitute forward-looking statements. Such statements are based on Michael Baker International's current expectations and could be affected by numerous factors and are subject to various risks and uncertainties. Do not rely on any forward-looking statement, as Michael Baker International cannot predict or control many of the factors that ultimately may affect Michael Baker International's ability to achieve any expected results. Michael Baker International makes no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/michael-baker-international-llc-announces-changes-to-the-settlement-of-its-tender-offer-for-8250-senior-secured-notes-due-2018-and-solicitation-of-consents-for-proposed-amendments-to-the-related-indenture-300447739.html


Dublin, April 25, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global LIDAR market - By Product, Service and Software, Application, Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2016-2022)" report to their offering. The global LIDAR market was USD 389.35 Million in 2016 and is estimated to reach USD 943.23 Million, at a CAGR of 15.89%, by 2022. North America held the largest market share in the year 2016. This was due to the increased adoption of 3D imagery services by the US government. Europe closely followed by the North American market due to technological advancements in areas such as corridor mapping, military, transportation etc. This trend is expected to remain the same in the forecasted period with APAC leading the market growth rate due to heavy spending in military and defense. The LIDAR helps in forestry management and planning, flood modelling, pollution modelling, transport planning, coastline planning, urban management, oil and gas exploration and imaging among a multitude of usages. Increasing utility of direct visualization and automated door modelling are some of the major drivers driving the market. Increased speed of acquisition, improved handling of sensing devices, and greater accuracy are some of the key drivers for the lower cost mapping systems. Also, growing environmental concerns and heightened homeland security requirements are some of the other drivers. Escalating needs of imagery and critical mapping especially in the government and defense sectors is expected to boost the growth. Also since transportation, defense and the military sectors which use the technology at the core are expected to witness a high growth thus benefitting the industry. Major restraint for the growth of the market is the high cost and expenses in the survey application. For many years now, LIDAR is perceived as a high cost device by the customers, though its prices have reduced significantly. Also, the lack of knowledge among customers because of negligence is another hindrance to the market. The market is consolidated with the presence of multiple manufacturers offering the product in the organized sector. Strategic partnerships and acquisitions have been used for business expansions by organizations. Key Topics Covered: 1. Research Methodology Executive Summary 2. Market Overview Definition Value chain analysis Porter's 5 Forces Regulations 3. Market Dynamics Introduction Drivers Constraints Opportunities 4. Global LIDAR Segmentation, Forecasts and Trends - by Revenue 5. By Product Aerial Ground based 6. By Service and Software Data Processing Aerial Surveying Asset Management GIS Service Ground based Surveying Mapping and Modeling Others 7. By Application Corridor Mapping Engineering Environment ADAS Exploration Urban Planning Cartography Meteorology Others 8. By Region North America US Canada Europe UK France Spain Italy Others Asia Pacific China India Japan Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa United Arab Emirates Egypt Saudi Arabia South Africa Others 9. Vendor Market Share Analysis 10. Company Profiles Leica Geosystems AG Faro Technology Quantum Spatial Topcon Positioning Systems, Inc. Geodigital Trimble Navigation Limited Optech Inc. Michael Baker International Geokno India Pvt. Ltd. Riegl Laser Measurement Systems GmbH Sick AG Velodyne LiDAR, Inc. Blom Yellowscan Others 11. Industry Structure Industry M&As, Consolidations Investment Opportunities Global LIDAR Market- Road Ahead For more information about this report visit http://www.researchandmarkets.com/research/65gplk/global_lidar


Dublin, April 25, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global LIDAR market - By Product, Service and Software, Application, Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2016-2022)" report to their offering. The global LIDAR market was USD 389.35 Million in 2016 and is estimated to reach USD 943.23 Million, at a CAGR of 15.89%, by 2022. North America held the largest market share in the year 2016. This was due to the increased adoption of 3D imagery services by the US government. Europe closely followed by the North American market due to technological advancements in areas such as corridor mapping, military, transportation etc. This trend is expected to remain the same in the forecasted period with APAC leading the market growth rate due to heavy spending in military and defense. The LIDAR helps in forestry management and planning, flood modelling, pollution modelling, transport planning, coastline planning, urban management, oil and gas exploration and imaging among a multitude of usages. Increasing utility of direct visualization and automated door modelling are some of the major drivers driving the market. Increased speed of acquisition, improved handling of sensing devices, and greater accuracy are some of the key drivers for the lower cost mapping systems. Also, growing environmental concerns and heightened homeland security requirements are some of the other drivers. Escalating needs of imagery and critical mapping especially in the government and defense sectors is expected to boost the growth. Also since transportation, defense and the military sectors which use the technology at the core are expected to witness a high growth thus benefitting the industry. Major restraint for the growth of the market is the high cost and expenses in the survey application. For many years now, LIDAR is perceived as a high cost device by the customers, though its prices have reduced significantly. Also, the lack of knowledge among customers because of negligence is another hindrance to the market. The market is consolidated with the presence of multiple manufacturers offering the product in the organized sector. Strategic partnerships and acquisitions have been used for business expansions by organizations. Key Topics Covered: 1. Research Methodology Executive Summary 2. Market Overview Definition Value chain analysis Porter's 5 Forces Regulations 3. Market Dynamics Introduction Drivers Constraints Opportunities 4. Global LIDAR Segmentation, Forecasts and Trends - by Revenue 5. By Product Aerial Ground based 6. By Service and Software Data Processing Aerial Surveying Asset Management GIS Service Ground based Surveying Mapping and Modeling Others 7. By Application Corridor Mapping Engineering Environment ADAS Exploration Urban Planning Cartography Meteorology Others 8. By Region North America US Canada Europe UK France Spain Italy Others Asia Pacific China India Japan Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa United Arab Emirates Egypt Saudi Arabia South Africa Others 9. Vendor Market Share Analysis 10. Company Profiles Leica Geosystems AG Faro Technology Quantum Spatial Topcon Positioning Systems, Inc. Geodigital Trimble Navigation Limited Optech Inc. Michael Baker International Geokno India Pvt. Ltd. Riegl Laser Measurement Systems GmbH Sick AG Velodyne LiDAR, Inc. Blom Yellowscan Others 11. Industry Structure Industry M&As, Consolidations Investment Opportunities Global LIDAR Market- Road Ahead For more information about this report visit http://www.researchandmarkets.com/research/65gplk/global_lidar


In the news release, National Park Service Awards Michael Baker International $30 Million Contract for Environmental and Safety Management Services, issued 28-Feb-2017 by Michael Baker International over PR Newswire, we are advised by the company that the press release references open and...


PITTSBURGH, Feb. 16, 2017 /PRNewswire/ -- Michael Baker International, a global leader in engineering, planning and consulting services, today announced its partnership with the Southeastern Pennsylvania Transportation Authority (SEPTA) to provide a full range of environmental site...


PITTSBURGH, Dec. 6, 2016 /PRNewswire/ -- Michael Baker International, a global leader in engineering, planning and consulting services, as part of the Pond | Michael Baker International JV, was selected by the Jacksonville Transportation Authority (JTA) to design a state-of-the-art...


PITTSBURGH, Dec. 20, 2016 /PRNewswire/ -- In cooperation with the Pennsylvania Department of Transportation (PennDOT), Michael Baker International, a global leader in engineering, planning and consulting services, is playing a critical role in the improvement of Freedom Road, a major...


PITTSBURGH, Feb. 23, 2017 /PRNewswire/ -- Michael Baker International, a global leader in engineering, planning and consulting services, announced today that Danielle Smith, P.E., has joined the firm as Transportation Department Manager in the Denver office. With Ms. Smith's hiring,...

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