E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Add to balance / Manage account  User:  Log out
Prospect News home > News index > List of issuers P > Headlines for Pacific Internet Ltd. > News item
Published on 5/2/2007 in the Prospect News Special Situations Daily.

Connect Holdings begins tender offer for Pacific Internet

By Lisa Kerner

Charlotte, N.C., May 2 - Connect Holdings Ltd. said its voluntary conditional $10-per-share cash general offer for Pacific Internet Ltd. will end on June 7.

The offer price is a 9.77% premium over the $9.11 closing price on Jan. 11, the last trading day before Connect announced its offer. PacNet shares (Nasdaq: PCNTF) closed at $9.82 on Tuesday.

Connect currently owns 4,121,287 shares, or 29.78%, of the issued shares of PacNet, according to a company news release.

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


© 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.