You mean they are going to Pay a Divi .. on the 28th ??
Or What ??
finance.yahoo.com
AP
Collegiate Pacific Acquisition Canceled
Tuesday November 22, 2:20 pm ET
Collegiate Pacific Deal to Acquire Sport Supply Falls Through; Co. Boosts Stake in Retailer
DALLAS (AP) -- Sports equipment company Collegiate Pacific Inc. said Tuesday its deal to acquire Sport Supply Inc. has fallen through, but the company has instead boosted its stake in the retailer to 72 percent.
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Collegiate Pacific, which had agreed to acquire Sport Supply for $6.74 per share, said Tuesday that the deal "has become unlikely to close in a timely fashion under previously contemplated terms."
The company said it instead bought an additional 1.66 million shares of Sport Supply, which sells sports equipment to institutions such as schools, youth groups and camps, for $5.55 per share. The shares amount to about 19 percent of Sport Supply's outstanding stock and increases Collegiate Pacific's stake to 72 percent from 53 percent.
Collegiate Pacific said the two companies will "continue upon their previously announced track of maximizing operating synergies and savings between the companies."
The company expects to take a one-time charge related to the canceled acquisition of $500,000 for its second quarter, which ends Dec. 31.
Collegiate Pacific shares rose 53 cents, or 5.5 percent, to $10.10 in afternoon trading on the American Stock Exchange. Sport Supply shares fell 45 cents, or 8.2 percent, to $5.05 in over-the-counter trading.
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