Lights out for Claxson:
Claxson Interactive Group Inc. Announces Completion of Going Private Transaction
Tuesday July 15, 2:04 pm ET
Public Shareholders to Receive $13.75 Per Share in Cash
MIAMI & BUENOS AIRES, Argentina--(BUSINESS WIRE)--Claxson Interactive Group Inc. (Pink Sheets:XSONF - News) announced today that its merger with Remainco Inc., a wholly owned subsidiary of Claxson, was approved on July 14, 2008, by Claxson's shareholders holding a majority of the voting power of the company acting by written consent and, as a result, it has completed its going private transaction as of the close of business on July 14, 2008. Pursuant to the merger, all shareholders of Claxson's outstanding Class A common shares, other than the Class A common shares held by certain controlling stockholders, consisting of affiliates of the Cisneros Group of Companies, Hicks Muse, Roberto Vivo, Chief Executive Officer of the Company, Luis H. Moreno and related entities (the "Group"), and those held by shareholders who properly dissent under British Virgin Islands law, will receive $13.75 per share in cash.
As a result of the merger, Claxson has become a privately held company owned by the Group and has filed a Certification and Notice of Termination of Registration on Form 15 with the U.S. Securities and Exchange Commission (the “Commission”) to deregister its Class A common shares under the Securities Exchange Act of 1934, as amended, and terminate its reporting obligations.
<snip>
biz.yahoo.com |
