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• ], 2013
You are cordially invited to attend a special meeting of stockholders of ALCO Stores, Inc. to be held on [ • ], 2013 at the Royal Oaks Country Club, 7915 Greenville Avenue, Dallas, Texas 75231, at [ • ], Central time.
At the special meeting, you will be asked to consider and vote upon a proposal to adopt the Agreement and Plan of Merger, dated July 25, 2013, as amended, by and among ALCO Stores, Inc., Mallard Parent, LLC, or Parent, and M Acquisition Corporation, or Merger Sub, a wholly owned subsidiary of Parent. Parent and Merger Sub are entities that are affiliated with Argonne Capital Group LLC. Pursuant to the terms of the merger agreement, Merger Sub will merge with and into ALCO Stores, and ALCO Stores will become a wholly owned subsidiary of Parent. You will also be asked to consider and vote on a non-binding, advisory proposal to approve compensation that will or may become payable by ALCO Stores to its named executive officers in connection with the merger.
If the merger contemplated by the merger agreement is completed, you will be entitled to receive $14.00 in cash, without interest, for each share of our common stock owned by you (unless you have properly exercised your appraisal rights with respect to such shares), which represents a premium of approximately 63% to ALCO Stores' closing stock price on July 24, 2013, the last trading day prior to ALCO Stores' announcement of the transactions contemplated by the merger agreement.
ALCO Stores' Board of Directors, by the affirmative vote of all of its independent members (our sole director that is also a member of management, Richard E. Wilson, ALCO Stores' President and Chief Executive Officer, abstained), after considering factors more fully described in this proxy statement has determined that the merger agreement and the transactions contemplated by the mer