toggle

AAPL Stock: 121.3 ( -1.07 )

Printed from http://www.macnn.com

InFocus entertains new last minute buyout offer

updated 04:45 pm EDT, Thu April 23, 2009

New InFocus buy-out offer

Last week's announcement by projector manufacturer InFocus that it is getting bought out by Image Holdings Corporation (IHC) for $39 million may have been premature, according to a Thursday Twice report. InFocus' board of directors said late on Wednesday that it received a last-minute take over proposal, but did not reveal the name of the new suitor. Little other information about the new deal was revealed, other than that the InFocus board will discuss the new offer, but still support the existing offer.

Maker of the original bid, eMachines' co-founder John Hui, has been informed by InFocus about the new proposal, as have the company's investors.

At the time, IHC's bid of nearly $39 million represented a significant premium over InFocus' stock price, at 36% over the price of the previous day's trading, and a 90% premium over a 30-day average closing price.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

HP 14-x030nr 14-inch Chromebook

If you're like us, chances are you've come to realize that you need the ability to access the Internet on the go. Also, you've prob ...

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

toggle

Most Commented