ChyronHego Announces Agreement to Be Acquired by Vector Capital for $2.82 per Share
MELVILLE, NY--(Nov 17, 2014) - ChyronHego Corporation (NASDAQ: CHYR) ("ChyronHego" or the "Company") today announced that it has entered into a definitive merger agreement with affiliates of Vector Capital ("Vector") under which an affiliate of Vector will acquire all of the outstanding shares of ChyronHego common stock for $2.82 per share in cash (the "Vector Agreement"). A Special Committee of the ChyronHego Board of Directors and the disinterested directors of the Board have unanimously approved the Vector Agreement and recommend that ChyronHego's stockholders approve the transaction. The purchase price represents a premium of approximately 18% over ChyronHego's average closing share price for the six months ending on November 14, 2014 and a premium of approximately 230% to the closing stock price on March 8, 2013, the day prior to the announcement of the merger between Chyron and Hego. The price also represents a 4% premium over the company's closing share price on November 14, 2014 after a significant increase in the price in recent months.
- Published: 17 November 2014
- Written by Editor