July 1 (Reuters) - ARC Document Solutions Inc ( ARC ):
* ARC DOCUMENT SOLUTIONS INC ( ARC ) - RECEIVED NON-BINDING PROPOSAL
ON
APRIL 8, FROM CO'S CHAIRMAN AND CEO KUMARAKULASINGAM SURIYAKUMAR
* ARC DOCUMENT-PROPOSAL OUTLINING SURIYAKUMAR'S INTENT TO
EXPLORE,EVALUATE POTENTIAL ACQUISITION OF CO IN GOING-PRIVATE
TRANSACTION AT $3.25/ SHARE
* ARC DOCUMENT - ON JUNE 27, ACQUISITION GROUP AGREED IN
PRINCIPLE
THAT THEY WILL WORK WITH EACH OTHER TO NEGOTIATE AND CONSUMMATE
PROPOSED TRANSACTION
* ARC DOCUMENT SOLUTIONS ( ARC ) - ACQUISITION GROUP CURRENTLY
BENEFICIALLY OWNS ABOUT 19.6% OF CO'S OUTSTANDING SHARES OF
COMMON STOCK
* ARC DOCUMENT SOLUTIONS ( ARC ) - IN RESPONSE TO PROPOSAL, ON APRIL
8,
SPECIAL COMMITTEE OF BOARD WAS FORMED TO REVIEW, EVALUATE
PROPOSED TRANSACTION
* ARC DOCUMENT SOLUTIONS INC ( ARC ) - SPECIAL COMMITTEE INTENDS TO
CAREFULLY CONSIDER PROPOSED TRANSACTION
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