Answers.com (ANSW) Rejects Increased $14/Share Bid from Greenspan as Vote on AFCV Offer Looms
Answers.com (Nasdaq: ANSW) Board rejected an increased offer from Brad Greenspan Thursday ahead of a shareholder vote on the proposed $10.50 offer from AFCV Holdings scheduled for this morning. The $14 per share offer follows a rejected bid at $13.50 per share from Greenspan on Monday.
Although Greenspan claims to have received voting agreements from Answers.com shareholders, the Board said it was worried about necessary financing as well as clarity on the potential timing of a deal.
Shares of Answers.com are up 0.6 percent to $10.47 Thursday afternoon.
Stay tuned to StreetInsider.com to hear the breaking news on AFCV's offer.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
Although Greenspan claims to have received voting agreements from Answers.com shareholders, the Board said it was worried about necessary financing as well as clarity on the potential timing of a deal.
Shares of Answers.com are up 0.6 percent to $10.47 Thursday afternoon.
Stay tuned to StreetInsider.com to hear the breaking news on AFCV's offer.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: SAP's (SAP) America Unit to Buy Ariba (ARBA) for $45/Share
- Barclays Maintains an 'Overweight' on CVS Caremark (CVS); Positive on Shares After Mee ing
- The Talbots (TLB) Slammed As Sycamore Partners Pulls Out of Deal
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign 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!
