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iBasis to accept KPN's raised bid

Monday 23 November 2009 | 14:02 CET | News
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Dutch operator KPN and US carrier services provider iBasis have entered into a settlement agreement under which KPN will make an increased offer for the remaining shares in iBasis, of USD 3.00 per share in cash on 8 December. The upped offer values the 44 percent stake not owned by KPN at around USD 93.3 million. iBasis' board of directors have unanimously approved the agreement and have recommended that shareholders tender their shares. The final offer price of USD 3.00 per share represents a premium of 130.8 percent over the the closing price on 10 July, the last trading day prior to the

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Categories: Fixed
Companies: KPN
Countries: Netherlands / United States
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