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News Breaks | | | | January 1, 2013 | | 12:42 EDT |  | LOOK | PEEK Investments extends $1.00 per share tender offer for LookSmart
PEEK Investments announced last night that it has extended its third-party tender offer to purchase all of the outstanding shares of common stock of LookSmart (LOOK) for $1.00 per share in cash. As extended, the tender offer is scheduled to expire at 12:01 A.M., New York time, on January 7, 2013. The tender offer was previously scheduled to expire at 5:00 P.M., New York time, on December 31, 2012. As of December 31, 8.38M shares had been deposited, which, together with the shares owned by PEEK's affiliates, represents over 63% of the total shares outstanding. PEEK said, "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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