RCM Technologies (RCMT) Offers to Acquire Computer Task Group (CTGX) for $5.25 Per Share
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RCM Technologies, Inc. (Nasdaq: RCMT) has made a proposal to acquire all of the outstanding common stock of Computer Task Group, Inc. (Nasdaq: CTGX) for $5.25 per share resulting in a total equity value of approximately $105 million.
The offer is structured as 50% cash and 50% RCM stock and would result in CTG shareholders owning approximately 35% of the combined company. RCM's offer represents a premium of 21% to CTG's closing share price as of August 20th, 2007 and a 22% premium to CTG's closing share price on June 25, 2007, the date of RCM's first offer.
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