Richard Sands Quotations

would provide Vincor's shareholders with an immediate cash premium far greater than we believe the company can deliver on its own, given today's increasingly competitive and consolidating global wine industry.

The only way I could keep breathing was to stay behind the chimney. There were embers as big as my arm and I was squirting them with the pressure washer.

We have placed one and only one proposal before them. It's really a two part proposal. We will pay C$31 a share for a negotiated transaction without any additional information,

One of the most important benefits of having a pharmacy at the health center is financial. With a pharmacy, we can buy in bulk and dispense medications at usually a much lower cost, saving our students, faculty and staff money and still make a small profit for the university.

Given the absence of any progress, we feel compelled to make our offer available directly to your shareholders, so they can accept this opportunity to realize superior, immediate and certain value for their shares,

If the health center at BBC were to sell medication, it would be more costly and take at least a week to receive, as opposed to the UP Pharmacy that can receive it in as little time as a day.

He felt that Canandaigua, you know, 'The Chosen Spot,' that's what it means in Algonquin Indian, should have more cultural arts.

Our beer net sales grew 11% year to date, and we expect a similar growth rate in the fourth quarter. However, we expect mid-single-digit growth rates next year.

Patients can fax their prescription over to the UP pharmacy and we will be able to send the prescriptions to their homes for a small fee. With greater funds in the future, we plan to expand the BBC Health Clinic facility and provide a limited pharmacy operation there based on demand.

Year-after-year growth is what makes a company worth more, not one-time synergies that undermine potential growth. So we are baffled by their statements and their actions and absolutely do not consider our offer in any way opportunistic.

We are committed to completing this transaction with Vincor quickly and I emphasize quickly. We will make all our resources available to achieve that goal.

we are ... disappointed by your rejection in our meeting today of our proposal to acquire Vincor and your board's refusal to engage in discussions on this matter.

We disagree with a significant amount of the information contained in the investor presentation that you have disclosed on your website. In particular, we disagree with your assertion that Constellation, or any other buyer for that matter, would be able to realize synergies of up to $150 million. In our view, the so-called synergies that you have outlined are completely unrealistic.

We are convinced that our $31 per share cash offer is fully priced based on the information available to us, and is the best alternative for Vincor's shareholders, in terms of both value and certainty.

We believe it is in the best interests of Vincor's shareholders to be fully aware of our proposal, and our willingness to increase our price based on access to additional information that demonstrates and supports that additional value is warranted,

Through this combination, Canada will become a core market for Constellation.

Every overture that we had made to the company to access information has actually been turned against us.

Constellation could not let this process continue indefinitely.

There's no reason to sweeten the bid. Our bid is very sweet,

prospects Vincor has put forward that are speculative at best.

They've done a very good job in Canada of changing as consumer trends and demands have changed.

They are doing ... what we have asked them to do, which is to put a 'For sale' sign on the company,

Absolutely, especially if we had the same information that the other bidders have . . . To date, there's no evidence that there's anyone else who will make an offer. So we don't see a basis for anything but the $31 at this stage,

I'm totally amazed at what they do. I saw exactly what they were doing from the top of my house.

In these circumstances, we will move on to other priorities and we will continue to build upon our outstanding track record of delivering growth and value to our shareholders.

If circumstances change, and there was a competing bid, we would evaluate any information that was available and make a decision at that point in time.