The Registrant announced in the press release attached hereto as Exhibit 99.1, that it withdrew its previously announced consent solicitation with respect to all of its outstanding 3.50% Notes due 2008, 6.25% Notes due 2009, 7.375% Notes due 2011 and 5.00% Notes due 2013 (together, the “Notes”). On February 21, 2007, the Registrant commenced the Consent Solicitation with respect to the Notes requesting a one-time waiver through July 9, 2007, of any default or event of default that has arisen prior to the effective date of the waiver by virtue of the Registrant’s failure to file with the Securities and Exchange Commission (the “SEC”) and furnish to Citibank, N.A., the trustee with respect to the Notes, and holders of the Notes, certain reports required to be so filed and furnished by the Registrant pursuant to the terms of the indentures governing the Notes. As previously announced on February 28, 2007, the Registrant completed its internal investigation of its stock option grant practices, which was initiated by the Registrant’s Board of Directors in response to investigations of the Registrant’s option grant practices by the SEC and the United States Attorney’s Office for the Eastern District of New York. Following the completion of this internal investigation, the Registrant has transmitted to the SEC, for filing on March 5, 2007, the Registrant’s Quarterly Reports on Form 10-Q for the fiscal quarters ended September 29, 2006, and December 29, 2006, and has also furnished Citibank, N.A., as the Trustee, copies of such reports, which will cure any default under the indentures for which the one-time waiver was being sought pursuant to the Consent Solicitation. Accordingly, the Registrant has elected to withdraw the Consent Solicitation effective immediately. Item 9.01. Financial Statements and Exhibits 99.1 Press release dated March 2, 2007 regarding withdrawal of the Registrant’s Consent Solicitation. |
