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Article: Unite States : Cyberplex Inc. Proposes Acquisition of Burst Media Corporation for Pounds Sterling 0.12 Per Share.
- Article from:
- TendersInfo
- Article date:
- July 30, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Cyberplex Inc. (TSX:CX) today announced that it affirms a proposal made to the Burst Media Corporation ("Burst") Board of Directors to acquire all the outstanding shares of Burst common stock for per share consideration of Pounds Sterling 0.12 in cash representing a total equity value of approximately $16.5 million (USD). The proposal represents an 81.3 percent premium above the closing price of the last trading day of Burst common stock on July 23, 2009 on the AIM exchange. The Board of Directors of Burst rejected the proposal despite substantial support from Burst shareholders.
"We have a strong admiration for what Burst has been able ...