Pomeroy to be Acquired for $5.02 per Share
Pomeroy IT Solutions Inc. (Nasdaq: PMRY), an information technology ("IT") solutions provider, announced today that it has entered into a definitive merger agreement to be acquired by Hebron LLC, a holding company owned by David B. Pomeroy, II, a director of the Company and its founder (the "Agreement"). Mr. Pomeroy is the beneficial owner of approximately 20% of the outstanding shares of the Company's common stock. Under the terms of the Agreement, Hebron LLC will acquire all of the outstanding common stock of the Company not owned by Mr. Pomeroy and his wife for $5.02 per share. The offer represents a 30% premium over the May 19, 2009, closing price of $3.86, and a 41% premium over the last month average closing price of $3.55.
- Published: 20 May 2009
- Written by Editor