GSO Ammends Reddy Ice Terms

GSO Capital Partners has amended certain terms of its pending buyout of Reddy Ice Holdings (NYSE: FRZ), in order to help secure approval of dissenting shareholders. The $31.25 per share price stays intact, but GSO has halved what had been a $7 million breakup fee, and also agreed to extend its pre-closing marketing period to as late as February 28, 2008. The $1.1 billion deal had originally been expected to close by year-end. Reddy Ice also said that it had contacted 47 potential buyers during its “go-shop” period, but that it was not actively engaged in any alternative discussions. Reddy Ice is a Dallas, Texas-based manufacturer and distributor of packaged ice.