PITTSBURGH--()--Michael Baker Corporation (NYSE MKT: BKR) announced today that its Board of Directors has appointed a committee composed of independent directors to review the Company’s strategic alternatives. The Board has not placed any limitations on the Committee’s review and has not made any decision to review, or not review, any possible alternatives at this time. There necessarily can be no assurance that the Company will pursue any particular course of action.
The Committee will be advised by Houlihan Lokey and Jones Day as to financial and legal matters.
Michael Baker Corporation (www.mbakercorp.com) provides engineering, design, planning and construction services for its clients’ most complex challenges worldwide. The firm's primary business areas are architecture, aviation, defense, environmental, geospatial, homeland security, municipal & civil, oil & gas, rail & transit, telecommunications & utilities, transportation, urban development and water. With more than 3,000 employees in over 100 offices across the United States, Baker is focused on creating value by delivering innovative and sustainable solutions for infrastructure and the environment.
(The above information contains forward-looking statements concerning our future prospects and plans. Forward-looking statements are subject to market, operating, economic and other risks and uncertainties that may cause our actual results and plans to be materially different from any suggested herein. Factors that may cause such differences include, among others: uncertainties regarding future actions that may be taken by DC Capital Partners in furtherance of its recently announced unsolicited proposal; increased competition; increased costs; changes in general market conditions; changes in industry trends; changes in the regulatory environment; changes in our relationship and/or contracts with the Federal Emergency Management Agency (“FEMA”); changes in anticipated levels of government spending on infrastructure, including the Safe, Accountable, Flexible, Efficient Transportation Equity Act—A Legacy for Users (“SAFETEA-LU”); changes in loan relationships or sources of financing; changes in management; changes in information systems, and acquisition-related activity. Certain of these risk factors are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, as well as the Company’s other reports filed with the Securities and Exchange Commission. Such forward-looking statements are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.)