Onvia (ONVI) Rejects $4.25/Share Unsolicited Takeover Offer
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Onvia (Nasdaq: ONVI) confirmed that it received an unsolicited, non-binding conditional proposal from Symphony Technology Group to acquire all of the outstanding shares of Onvia's common stock other than those that it already owns at a price of $4.25 per share in cash, subject to due diligence and other conditions.
Onvia's board of directors unanimously determined that Symphony's acquisition proposal is inadequate and not in the best interests of Onvia and its stockholders.
Onvia's board of directors unanimously determined that Symphony's acquisition proposal is inadequate and not in the best interests of Onvia and its stockholders.
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