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News Breaks | | | | March 21, 2013 | | 08:54 EDT |  | CIS | Benefit Overseas details $1.85 per share offer for Camelot Information
Benefit Overseas disclosed an 8.4% stake in Camelot Information and its non-binding proposal sent to the company's board for the acquisition of the publicly held shares. In the proposal, Benefit Overseas proposed to acquire, through an acquisition vehicle to be established, all of the publicly held shares for cash consideration equal to $1.85 per ADS. The buyer group intends to finance the transactions through a combination of equity capital funded by the buyer group and certain rollover shareholders in the form of rollover equity, and debt from third party financial institutions. The group also stated in the proposal that they are in discussions with a financial institution which has expressed interest in providing loans to finance the transactions contemplated under the merger proposal. | |
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