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Stock Market & Financial Investment News

News Breaks
June 15, 2014
14:33 EDTLLNWLimelight Networks says Tuition Build offer is not an actionable proposal
Limelight Networks announced that it has received an unsolicited offer to purchase the company from an entity that management believes is a non-credible source. Under the proposal, first reported by media outlets, then confirmed via phone and follow up email, on June 13, Tuition Build has offered to purchase and take private Limelight Networks for $644.7M or $6.55 per share if certain unspecified financial thresholds were satisfied. Representatives of the company contacted Tuition Build to make inquiries regarding its proposal and ability to complete the proposed transaction. Based on these inquiries, as well as independent investigations of Tuition Build, management has concluded that Tuition Build does not have the experience, credentials, financial resources, or capability to complete the proposed transaction, and that Tuition Build’s stated interest in acquiring Limelight Networks is not an actionable proposal. Accordingly, management believes current and prospective investors in Limelight Networks should disregard Tuition Build’s proposal.
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