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Stock Market & Financial Investment News

News Breaks
December 3, 2012
05:04 EDTLOOKPEEK extends LookSmart tender offer until Dec. 31, cannot guarantee success
Peek issued the following statement: "We have extended our third-party tender offer to purchase all of the outstanding shares of common stock of LookSmart for $1.00 per share in cash. As extended, the tender offer is scheduled to expire at 5:00 P.M., New York time, on December 31. The tender offer was previously scheduled to expire at 5:00 P.M., New York time, on November 30. As of November 30, 4.73M shares had been deposited, which, together with the shares owned by PEEK's affiliates, represents approximately 42% of the total shares outstanding. We extended the tender offer because we are currently engaged in negotiations with LookSmart with respect to possible board representation rights and related agreements and transactions. However, we cannot guarantee that the negotiations will be successful or that the tender offer will be consummated even if the negotiations are successful."
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