YuMe (YUME) Sets up Special Committee After Holder Seeks to Acquire Company
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
YuMe (NYSE: YUME) in an SEC filing confirmed that it recently received an indication of interest in acquiring the Company from its second largest shareholder, AVI Partners, LLC.
The Company’s Board of Directors (the “Board”) is carefully considering this indication of interest. The Board has established a special committee of independent directors and is in the process of selecting a financial advisor.
The Company currently has no further comment on this matter.
Earlier AVI disclosed:
AVI Partners (together with its affiliates, “AVI”) recently notified the Issuer that, subject to AVI’s completion of confirmatory due diligence, AVI is prepared to offer to acquire all of the outstanding Shares of the Issuer at a purchase price in the range of $4.52 to $5.22 per Share (the “Offer”), subject to (a) the Issuer having at least $63 million of cash and cash equivalents at the time of any such transaction; (b) the completion of due diligence, including financial, legal, accounting and tax diligence; (c) the negotiation of a satisfactory acquisition agreement with customary terms and conditions; and (d) the negotiation of a satisfactory management agreement to eliminate unnecessary operating costs in an amount not less than $10 million.
AVI and the other Reporting Persons currently intend to further discuss and negotiate the Offer with the Board and management of the Issuer and may enter into a customary confidentiality agreement and other customary documentation related to the transaction. AVI reserves the right to revoke, amend or modify the Offer, including the price, conditions and others terms of the Offer.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Corvex Management Cuts Signet Jewelers (SIG) Stake in Half
- Heritage-Crystal Clean (HCCI) CEO, Founder Chalhoub to Retire
- Ring Energy (REI) Plans Common Stock Offering
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!