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Monday June 4, 6:49 am Eastern Time Tweeter Home Entertainment to buy Sound Advice NEW YORK, June 4 (Reuters) - Audio and video retail chain Tweeter Home Entertainment Group Inc. (NasdaqNM:TWTR - news) said Monday it agreed to buy Sound Advice Inc. (NasdaqNM:SUND - news) in a move that would increase its store count and position it as the No. 1 U.S. specialty retailer. Under the terms of the deal, each share of Sound Advice common stock will be converted into Tweeter common stock, at an exchange ratio of one-for-one while the five-day average market price for Tweeter is between $21 and $30 per share. If the five-day average price for Tweeter common stock at the time of closing is above $30 per share, the exchange ratio will decrease in order to maintain $30 per share. If the five-day average price for Tweeter common stock is below $21 per share, the exchange ratio will increase in order to maintain $21 per share. Both parties have the right to terminate the deal if the five-day average closing price of Tweeter common stock is below $18 per share at the time of closing. The deal is structured as a tax-free exchange for stock and will be accounted for by Tweeter as a purchase. The transaction, which is slated to close around September 1, is subject to the approval of Tweeter and Sound Advice stockholders, as regulatory approval. Shares of Tweeter closed Friday at $28.75, Sound Advice closed at $15 per share. @az-maja funk mich mal bitte kurz an. gruss tb 2 |
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| aus der Diskussion: | "Ventro, Umsätze enorm, unser kl. Zockertreff, Part 3" |
| Autor (Datum des Eintrages): | thebull 2 (04.06.01 13:03:53) |
| Beitrag: | 131 von 1,000 (ID:3658610) |
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