IDS Updates Buyout Offer for All Outstanding Shares at $1.75 per Common Share
Thursday July 6, 9:15 am ET
IDS, HLS and WSA Executives Meet to Discuss Increased Offer
ORLANDO, FL--(MARKET WIRE)--Jul 6, 2006 -- IDS Worldwide, Inc. (Other OTC:IDWD.PK - News) IDS announced today that HLS has made a counter to the offer received from WSA to purchase IDS Common Stock. HLS executives have stated the company would meet or exceed the offer of WSA, but still keep the division of 995ad.com as a separate asset to be spun-off later thru its own offering. IDS executives yesterday had talks with both companies and those talks were abruptly postponed further, until today when HLS made an offer to form a joint venture with Worldwide Security Acquisitions and proceed jointly with an increased buyout offer.
HLS and WSA executives informed IDS executives at 11 p.m. EDT that the two companies will meet again this morning to continue their negotiations. IDS executives informed both parties that no sale would be considered that included the 995ad.com unless the offer was in excess of $5.00 per share. IDS feels it would not be in the interest of common stockholders to sell 995ad.com at this young growth stage of the division. HLS and WSA combined revenues for 2006 currently exceed $60 Million and combined assets in excess of $10,000,000, neither company carries any debt.
IDS has informed both parties that it would like to have the negotiations concluded not later than close of business July 7, 2006. HLS also informed IDS that today its advisors were applying for the CUSIP number to finalize the distribution of the special dividend. Numerous shareholders have received "book entry" of the dividend in their brokerage accounts, while some brokerages have yet to record this entry. By obtaining the CUSIP number it will allow all brokerage houses to complete the distribution.
