PRESS RELEASE
Published on November 20, 2001
EXHIBIT (a)(11)
FOR MORE INFORMATION, CONTACT:
Ben Deutsch
The Coca-Cola Company
404-676-2683
THE COCA-COLA COMPANY ANNOUNCES EXPIRATION OF
HART-SCOTT-RODINO WAITING PERIOD FOR
ODWALLA ACQUISITION
ATLANTA (November 20, 2001) - The Coca-Cola Company (NYSE: KO) said today that
the 15-day waiting period for its acquisition of Odwalla, Inc. (Nasdaq: ODWA)
under the Hart-Scott-Rodino Antitrust Improvements Act expired on November 19,
2001.
As previously announced, The Coca-Cola Company has commenced a tender offer for
all of the outstanding shares of Odwalla pursuant to an Agreement and Plan of
Merger, dated as of October 29, 2001 for $15.25 per share, net to seller, in
cash. The tender offer will expire at 12:00 midnight, San Francisco,
California time, on Thursday, December 6, 2001, unless extended. The tender
offer is subject to certain conditions, including at least 90.1% of Odwalla's
outstanding shares, on a fully diluted basis, being tendered without withdrawal
prior to the expiration of The Coca-Cola Company's offer. If more than 50% of
the outstanding shares but fewer than 90.1% of the outstanding shares on a fully
diluted basis are tendered, The Coca-Cola Company may, under certain
circumstances, reduce the number of shares subject to the offer to 49.9% of the
outstanding shares and subsequently pursue a merger with Odwalla.
This announcement is neither an offer to purchase nor a solicitation of an
offer to sell shares of Odwalla, Inc. The Coca-Cola Company has filed a tender
offer statement with the Securities and Exchange Commission (SEC) and Odwalla
has filed a solicitation/recommendation statement with respect to the offer.
Odwalla shareholders are advised to read the tender offer statement regarding
the acquisition of Odwalla referenced in this press release, and the related
solicitation/recommendation statement, including the amendments to these
documents which are expected to be filed with the SEC today. The tender offer
statement (including an offer to purchase, letter of transmittal and related
tender documents) and the solicitation/recommendation statement contain
important information which should be read carefully before any decision is made
with respect to the offer. These documents will be made available to all
stockholders of Odwalla at no expense to them. These documents will also be
available at no charge on the SEC's web site at www.sec.gov.
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ABOUT THE COCA-COLA COMPANY
The Coca-Cola Company is the world's largest beverage company and is the
leading producer and marketer of soft drinks. Along with Coca-Cola, recognized
as the world's best-known brand, The Coca-Cola Company markets four of the
world's top five soft drink brands, including diet Coke, Fanta and Sprite.
Through the world's largest distribution system, consumers in nearly 200
countries enjoy The Coca-Cola Company's products at a rate of more than 1
billion servings each day. For more information about The Coca-Cola Company,
please visit its website at www.coca-cola.com.
This press release contains statements, estimates or projections, not historical
in nature, that may constitute "forward-looking statements" as defined under
U.S. federal securities laws. These statements, which speak only as of the date
given, are subject to certain risks and uncertainties that could cause actual
results to differ materially from our Company's historical experience and its
present expectations or projections. These risks include, but are not limited
to, its ability to finance expansion plans, share repurchase programs and
general operating activities; changes in the non-alcoholic beverages business
environment, including actions of competitors and changes in consumer
preferences; regulatory and legal changes; fluctuations in the cost and
availability of raw materials; interest rate and currency fluctuations; changes
in economic and political conditions; its ability to penetrate developing and
emerging markets; the effectiveness of its advertising and marketing programs;
litigation uncertainties; adverse weather conditions; and other risks discussed
in our Company's filings with the SEC, including our Annual Report on Form 10-K,
which filings are available from the SEC. The Coca-Cola Company does not
undertake any obligation to publicly update or revise any forward-looking
statements.