(Reuters) - The terms value James River at $34.50 per share, a 1.9
percent discount to its Friday closing price of $35.18 on the
Nasdaq, but 92 percent above the $18 per share that the company
was worth when it went public in August 2005. Forty-five
percent of stockholders have agreed to back the transaction.
James River, based in Chapel Hill, North Carolina, will
have until Aug. 5 to solicit a superior offer, under what is
known as a "go-shop" provision. If it finds a superior offer,
D.E. Shaw would get a $7.2 million termination fee. James River
intends to keep paying dividends until merger is completed. The
transaction is not subject to a financing condition.
Read more at Reuters.com Bonds News
percent discount to its Friday closing price of $35.18 on the
Nasdaq, but 92 percent above the $18 per share that the company
was worth when it went public in August 2005. Forty-five
percent of stockholders have agreed to back the transaction.
James River, based in Chapel Hill, North Carolina, will
have until Aug. 5 to solicit a superior offer, under what is
known as a "go-shop" provision. If it finds a superior offer,
D.E. Shaw would get a $7.2 million termination fee. James River
intends to keep paying dividends until merger is completed. The
transaction is not subject to a financing condition.
Read more at Reuters.com Bonds News
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