CHASKA, Minn.--(BUSINESS WIRE)--The board of directors of LIFECORE BIOMEDICAL, INC. (NASDAQ:LCBM) announced today that the “go-shop” process conducted on the Company’s behalf by Piper Jaffray & Co., the independent financial advisor to Lifecore’s board of directors, has ended. During the “go-shop” process, Piper Jaffray & Co. held a variety of discussions with more than 50 potential transaction partners and no proposal was received that constitutes, or is reasonably likely to result in, a proposal superior to that contemplated by the Agreement and Plan of Merger (the “Merger Agreement”), announced January 15, 2008, among Lifecore, SBT Acquisition Inc. and SBT Holdings Inc., both affiliates of Warburg Pincus LLC. As a result, no parties are designated as excluded parties pursuant to the terms of the Merger Agreement.
