In response to publicly expressed investor concerns about the
pricing of a merger transaction proposed by the management of
Providian Financial Corporation (“PVN”), a special “Forum”
program has been initiated for the limited purpose of arranging
an independent analysis of shareholder interests.
The program is intended to develop a broadly applicable process
for providing public shareholders with objective, professional
analyses of transaction proposals, as an alternative to the
current practice of relying on “fairness opinions” presented by
a transaction’s proponents.
Anyone with an interest in Providian or in the general objective
of assuring informed investment decisions is encouraged to
participate in the program, which will be managed by Gary Lutin
according to the usual Forum policies.
Inquiries, requests to be included in
email distribution lists, and suggestions of
subjects may be addressed to
This public program addressing
shareholder interests in Providian Financial Corporation (PVN)
was initiated with the leadership support of Putnam
Investment Management, and according to the Forum’s stated "Conditions of Participation"
is open to all shareholders of the subject company and to any
fiduciaries or professionals concerned with their decisions. In
all cases, each participant is expected to make independent use
of information obtained through the Forum, and participation is
considered private unless the party specifically authorizes
provided to Forum participants is intended for their
private reference, and permission has not been
granted for the republishing of any copyrighted
material. The material presented on this web site is
the responsibility of
Gary Lutin, as chairman of the