Feb, 2002 : Register.com Makes Offer for Virtual Internet

📅 February 1, 2002 - Register.com, Inc., a provider of global domain name registration and Internet services, and Virtual Internet plc (vi.net -> ingenuitycloudservices.com), an online intellectual property protection and Web hosting services company, today announced a recommended cash offer by a wholly-owned Register.comsubsidiary for Virtual Internet.

The offer values Virtual Internet at approximately (pound) 11.99 million.The offer is subject to a number of conditions, including acceptance byholders of not less than 90 per cent of Virtual Internet shares.
The offer of 46.8p per Virtual Internet share represents a premium ofapproximately 35.7 per cent over the closing price on 31 Jan. 2002.
The directors of Virtual Internet have unanimously recommended shareholdersto accept the offer in respect of their own holdings, representingapproximately 53.2 per cent of Virtual Internet's existing issued shares.
Richard Forman, chairman, president and CEO of Register.com said, "Thisoffer, if consummated, would foster Register.com's growth in the U.K. andEurope, particularly in the corporate domain name services market. Thecombined expertise and knowledge of Register.com and Virtual Internet willallow us to develop new products and services for our customers, targeted totheir needs."

Reads: 2083 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/vi020102.cfm

Company: Vi.net [vi.net -> ingenuitycloudservices.com]

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