AFCVAir Force Common Viewer
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com (NASDAQ:ANSW) said its board turned down a speculative takeover approach from US entrepreneur Brad Greenspan, saying it would continue to back the sale to AFCV Holdings, as it best serves the shareholders interest.
com and AFCV Holdings, dated as of February 2, 2011, Answers.
com with AFCV, and (iii) require disclosure correcting purported misstatements in the Answers Proxy Statement.
com[R], today announced that its Board of Directors, advised by its independent financial and legal advisors, has concluded that the proposed transaction with AFCV Holdings, LLC remains in the best interests of Answers' stockholders and unanimously reaffirmed its recommendation that stockholders vote to adopt the merger agreement between Answers.
These forward-looking statements are subject to risks and uncertainties with respect to the consummation of the proposed AFCV.
The board has also said that the unsolicited bid would not ultimately be superior to that from AFCV, which had agreed to pay USD10.
The non-GAAP financial measure we refer to, Adjusted EBITDA, represents net income (loss) before interest, income taxes, depreciation, amortization, gain (loss) resulting from fair value adjustment of warrants, stock-based compensation, foreign currency exchange rate differences and expenses relating to the proposed acquisition of all the shares of the Company by AFCV Holdings LLC ("the AFCV Acquisition").
Country: , USASector: IT/Online ServicesTarget: Answers CorporationBuyer: AFCV Holdings LLC, Summit Partners LPDeal size in USD: 127mType: Corporate acquisitionFinancing: DebtStatus: AgreedComment: The company receives early termination of the HSR waiting period.
com's business is materially undervalued by the stock market as a going concern, and that AFCV Holdings' offer does not come close to representing fair value.
com (NASDAQ:ANSW) said it has received early termination of the Hart-Scott Rodino (HSR) waiting period for its takeover by AFCV Holdings, a portfolio company of local investor Summit Partners, for USD127m (EUR91.
com stockholders by failing to adequately shop the Company before entering into this transaction and whether AFCV is underpaying for Answers.
com (NASDAQ:ANSW) has agreed to be taken over by AFCV Holdings, a portfolio company of local investor Summit Partners, for USD127m (EUR93.