Emageon (EMAG) Updates Health Systems Merger Transaction
More News related to EMAG
- AMICAS (AMCS) to Acquire Emageon (EMAG) for $1.82/Share
- Notable Mergers and Acquisitions of the Day 2/13: THOR, INFA, EMAG
- Emageon (EMAG) Receives $9M in Escrow Funds from Health Systems Solutions; Terminates Merger Agreement
- Unusual 11 Mid-Day Movers 2/11: TSCC, NFP, XL, CRAY Higher; EMAG, MOD, GXP, LBY Lower
- Unusual 11 Mid-Day Movers 12/30: EMAG, SVNT, IRM, ALY Higher; SIL, APWR, RICK, EVR Lower
More News related to HSSO
- Notable Mergers and Acquisitions of the Day 2/13: THOR, INFA, EMAG
- Emageon (EMAG) Receives $9M in Escrow Funds from Health Systems Solutions; Terminates Merger Agreement
- Unusual 11 Mid-Day Movers 2/11: TSCC, NFP, XL, CRAY Higher; EMAG, MOD, GXP, LBY Lower
- Unusual 11 Mid-Day Movers 12/30: EMAG, SVNT, IRM, ALY Higher; SIL, APWR, RICK, EVR Lower
- Notable Mergers and Acquisitions of the Day 12/30: HSSO/EMAG, WSTF, GSK/GNLB
Emageon Inc. (Nasdaq: EMAG) received a letter from Health Systems Solutions, Inc. (OTCBB: HSSO) indicating that Stanford International Bank Limited will not provide the funding to consummate the transaction at this time. The letter further provided that Health Systems is continuing to seek to cause SIBL to fund the transaction and that Health Systems is undertaking further efforts to consummate the transaction.
CEO Chuck Jett said, "We continue to seek to engage Health Systems and SIBL in a constructive dialogue towards the goal of closing as soon as possible. We are also hopeful that Health Systems will begin to take all such actions as required under the merger agreement to remedy the failure to finance the transaction and close promptly. Failure to remedy the financing promptly will require us to seek all remedies to enforce our rights for the benefit of our stockholders."
Related Categories
Mergers and AcquisitionsStocks Mentioned
+0.00Related Entities
Comments
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!
Emageon
Mike on Dec 27, 2008 11:32 AMFuck Emageon and HSS, as long as I brake even I'm pulling out and never dealing with unreliable companies again. 50,000 shares here