It's done.
Tuesday July 15 1:35 PM EDT
NetFRAME Systems Holders Tender Shares to Micron
Electronics
M&A
NETFRAME SYSTEMS INC. Holders Tender Shares to Micron Electronics Inc.--
Ticker: NETF (news)
Highlight: TDS
Date: 970715
July 15, 1997, Micron Electronics Inc. (MUEI) said 8,771,829 shares, or about 63% of the outstanding
shares of NetFRAME Systems Inc. (NETF), were tendered for $1 per share in cash.
MEUI said it will take steps to combine NETF with Payette Acquisition Corp., MEUI's subsidiary. MEUI's
request for early termination of the waiting period applicable to the merger under the Hart-Scott-Rodino
Antitrust Improvements Act was previously granted.
MEUI noted that a special meeting of NETF's holders is expected to be held at the end of August, with the
combination to follow shortly thereafter. Any shares of NETF common not tendered and purchased pursuant
to the tender offer will be converted into the right to receive $1 per share in cash.
As reported, MUEI entered into a definitive agreement to acquire NETF through a cash tender offer valued at
about $14,000,000. |
