Vitamin Shoppe (VSI) : update from "go-shop" period

• 9/24/19:  VSI -10.7% (Vitamin Shoppe ended negotiations with bidder during the "go-shop" period; Board reaffirms recommendation in favor of pending merger with Franchise Group)

Vitamin Shoppe announces update from "go-shop" period; received interest from bidder

The "go-shop" period provided for under the terms of the previously announced merger agreement by and among the company, Liberty Tax (TAXA), and Valor Acquisition, LLC expired at 12:01 a.m. New York City time on September 6; the company announced that it has received an acquisition proposal to acquire the company from a third party during the go-shop period. No parties other than that bidder submitted an acquisition proposal to acquire the Company during the "go-shop" period.

The company has determined that the bidder has qualified as an "Excluded Party" and that the Acquisition Proposal is reasonably likely to lead to a Superior Proposal. The company intends to engage in negotiations with the bidder regarding the Acquisition Proposal. At this time, the company has not determined whether the Acquisition Proposal constitutes a Superior Proposal under the Merger Agreement.

Neither the Board of Directors of the company nor the Special Committee of the Board of Directors of the company has changed its recommendation in favor of the company's pending merger with Liberty Tax and expressly reaffirms its recommendation in favor of the pending merger with Liberty Tax.