CaucusCom completes tender offer for Metromedia

By Lisa Kerner

Charlotte, N.C., Aug. 22 - CaucusCom Ventures LP's wholly owned subsidiary, CaucusCom Mergerco Corp., completed its $1.80 cash per-share tender offer for Metromedia International Group, Inc. as scheduled at midnight ET on Aug. 21. The offer began on July 18, according to a company news release.

A total of 80,161,574 shares, or 77.6%, of Metromedia's outstanding common stock were validly tendered into the tender offer and not withdrawn.

CaucusCom's offer had been extended from Aug. 14 after only 43.2% of Metromedia's stock, or 44,583,308 shares, had been tendered by that date.

Fursa Alternative Strategies LLC dropped its bid for Metromedia on Tuesday blaming market conditions. The Lynbrook, N.Y., hedge fund management firm had sought to acquire Metromedia for $2.05 per share.

Metromedia is a Charlotte, N.C., communications company. CaucusCom is an affiliate of Salford Georgia and Compound Capital Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.