Fairness opinion given in Pacific Internet, Connect Holdings merger

By Lisa Kerner

Charlotte, N.C., June 19 - Pacific Internet Ltd.'s independent financial adviser, KPMG Corporate Finance Pte Ltd., issued a fairness opinion in the company's proposed acquisition by Connect Holdings Ltd.

Connect director Bill Barney urged PacNet shareholders "to seriously review the option and consider accepting this offer" before it expires at 1 am ET on June 22, according to a company news release.

On June 6, Connect upped its voluntary conditional cash offer for PacNet to $11 cash per share from $10 cash per share.

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

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