COMFORCE Corporation Agrees to be Acquired by Affiliate of ABRY Partners, LLC
COMFORCE Corporation (NYSE Amex: CFS) ("COMFORCE") and ABRY Partners, LLC ("ABRY Partners") today announced a definitive merger agreement for an affiliate of ABRY Partners to acquire all of the outstanding shares of COMFORCE for $2.50 per share of common stock, which represents a premium of approximately 77.4% over COMFORCE's 30day average closing stock price, and a premium of approximately 54.3% over the closing price of COMFORCE's common stock on November 1, 2010, the last trading day prior to today's announcement. The aggregate purchase price for the equity of COMFORCE is approximately $84.8 million (which consists of approximately 33.9 million shares, inclusive of all shares of common stock outstanding and preferred shares convertible into common stock).
- Published: 02 November 2010
- Written by Editor