Really, really old ratdog ONSS is up big this morn, new 52w high, is getting the buyout!!...LoFl...
Maybe the bio-turd will end up surprizing us too, 'cause if this bunch can find a buyer, any co. can..And then Santa Claus will show up...
On-Site Sourcing to be Acquired for $16 Million
Tuesday October 28, 9:39 am ET
ALEXANDRIA, Va. (Dow Jones)--On-Site Sourcing Inc. agreed to be acquired by privately held Docuforce LLC in a cash transaction valued at $16 million.
The document and office management outsourcing company also reported a third- quarter loss of $120,225, or 2 cents a share, including a charge of just under half a million on sale of a printing plant. On-Site reported a loss of $619,517, or 11 cents a share, last year.
The company reported earnings from continuing operation of $388,205, or 7 cents a share, up from a loss from continuing operations of $328,467, or 6 cents a share, last year.
Revenue grew about 11% to $8.9 million from $8 million a year ago.
In a press release Tuesday, On-Site said Docuforce agreed in a letter of intent to pay $2.75 for each share of On-Site, subject to adjustment based on changes in total shareholders equity from Sept. 30.
Based on On-Site's Monday closing price of $1.45 a share, the offer represents a premium of 90%.
Somebody knew something>
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