Connect Holdings to offer $10 per share for Pacific Internet

By Lisa Kerner

Charlotte, N.C., April 12 - Connect Holdings Ltd. intends to make a conditional general offer for the shares of Pacific Internet Ltd. at $10.00 per share, according to a company news release.

PacNet has formed a special committee to advise the board on the offer and has retained KPMG Corporate Finance Pte Ltd. to act as the independent financial adviser.

The PacNet board has not entered into discussions or negotiations with Connect Holdings.

Singapore-based PacNet is telco-independent Internet communications service provider in the Asia Pacific region.

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