ANLA & PLANET Sign Merger Letter of Intent

 

Signing a letter of intent allows the merger evaluation to advance to due diligence work, legal review and further detailed design of a single national trade association. Final approval of a merger requires a second positive vote by both boards of directors, followed by approval from the PLANET membership and a second positive vote by the ANLA Senate, with membership support. According to a Board of Directors report, ?EUR??,,????'??the associations?EUR??,,????'??? boards of directors have determined that the potential benefits of merging PLANET and ANLA into a new national trade association for the 21st Century are sufficient to warrant a full-scale evaluation of that merger.?EUR??,,????'?? A final vote of the ANLA Senate and PLANET?EUR??,,????'???s full membership is expected sometime in 2006.

ANLA?EUR??,,????'???s full membership will be contacted, prior to a vote, to provide feedback to their Senators. PLANET?EUR??,,????'???s membership vote will follow the completion of the task force?EUR??,,????'???s work and a recommendation from the PLANET Board of Directors. The actual merger, if approved by both organizations would likely occur in late 2006. Combining PLANET and ANLA would result in a national association with annual revenues of more than $9 million and a staff of 48, a resource base that is larger than about 75% of all trade associations in the U.S. The combined membership of the two organizations would exceed 6,000.