VTech releases results of tender offer for LeapFrog shares

VTech Holdings Limited (VTech, HKSE: 303) said that approximately 56.60 percent of all issued and outstanding shares of common stock of LeapFrog Enterprises, Inc. (LeapFrog, NYSE: LF) had been validly tendered and not withdrawn as of 11:59 p.m., New York City time, on April 1, 2016, the expiration date of the cash tender offer conducted by Bonita Merger Sub, L.L.C., an indirect wholly owned subsidiary of VTech.

All of the tendered shares have been accepted for purchase by Bonita Merger Sub, L.L.C.

As the conditions to the offer have been satisfied as of the expiration of the offer, the parties expect to complete the merger today in accordance with the terms of the Agreement and Plan of Merger, dated February 5, 2016, as amended, among VTech, LeapFrog and Bonita Merger Sub, L.L.C.

LeapFrog Enterprises provides solutions that encourage a child´s curiosity and love of learning throughout their early developmental journey.

VTech provides electronic learning products from infancy to preschool and the world´s largest manufacturer of cordless phones.