Megasoft commences cash tender offer for shares of Boston
Hyderabad, July 31 (UNI) Megasoft Limited today announced that its direct wholly-owned subsidiary, Tea Party Acquisition Corporation, has commenced its tender offer for all outstanding shares of Boston Communications Group Inc at a price of US Dollar 3.60 net per share in cash.
Megasoft and BCGI previously announced on July 11, 2007 that they had reached a definitive merger agreement for Megasoft to acquire BCGI, according to a release here today.
The Board of Directors of BCGI had unanimously determined that the terms of the offer, the merger and the other transactions contemplated by the merger agreement were advisable to the shareholders of BCGI and fair to and in the best interests of BCGI and its shareholders, adopted the merger agreement and approved the transactions contemplated thereby, including the offer and the merger and recommends that the shareholders of the company accept the offer and tender their shares in the offer.
There
was
no
financing
condition
to
the
tender
offer
and
the
tender
offer
was
subject
to
certain
conditions
set
forth
in
the
Offer
to
purchase
including
a
minimum
condition
relating
to
the
number
of
shares
tendered
in
the
tender
offer,
the
release
added.
UNI