New Frontier Media (NOOF) Evaluating Strategic Alternatives; Special Committee Retains Advisor
Tweet
Share
E-mail
New Frontier Media, Inc. (Nasdaq: NOOF) today announced that the Special Committee of the Board of Directors of New Frontier Media has retained Avondale Partners, LLC, a nationally recognized full service investment banking firm, as its financial advisor to examine and consider a broad range of strategic alternatives.
The strategic review will evaluate the Company's current long-term business plan against a broad range of alternatives that have the potential to maximize shareholder value.
The process to review strategic alternatives will be overseen by the Special Committee of independent directors that, as previously announced, is also evaluating the recent unsolicited non-binding acquisition proposals that were recently received by New Frontier Media. The Special Committee is also being assisted by its legal advisor, Alston & Bird LLP. New Frontier Media is being advised by Holland & Hart LLP.
The Special Committee, working with its financial and legal advisors, intends to proceed in a timely and orderly manner to consider a broad range of possible strategic alternatives for New Frontier Media and their implications, but has not set a definite schedule for the completion of its evaluation.
New Frontier Media cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is approved by the New Frontier Media Board of Directors, whether the terms or timing of such a transaction will be approved by shareholders.
The strategic review will evaluate the Company's current long-term business plan against a broad range of alternatives that have the potential to maximize shareholder value.
The process to review strategic alternatives will be overseen by the Special Committee of independent directors that, as previously announced, is also evaluating the recent unsolicited non-binding acquisition proposals that were recently received by New Frontier Media. The Special Committee is also being assisted by its legal advisor, Alston & Bird LLP. New Frontier Media is being advised by Holland & Hart LLP.
The Special Committee, working with its financial and legal advisors, intends to proceed in a timely and orderly manner to consider a broad range of possible strategic alternatives for New Frontier Media and their implications, but has not set a definite schedule for the completion of its evaluation.
New Frontier Media cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is approved by the New Frontier Media Board of Directors, whether the terms or timing of such a transaction will be approved by shareholders.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Glacier Bancorp (GBCI) Approved to Acquire Six Montana Branches From HTLF Bank (HTLF)
- Canopy Growth (CGC) Announces CBI Conversion to Exchangeable Shares, Appoints New Board
- Inhibikase Therapeutics (IKT) Issues Letter to Shareholders and Provides Update on Development Programs
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Avondale PartnersSign 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!
