NewMarket Technology, Inc., and Action Products International, Inc., Explore Potential Acquisition of All NewMarket Outstanding Stock by Action Products
Tuesday October 10, 10:00 am ET
Companies Sign Letter of Intent to Begin Formal Negotiations and Due Diligence
DALLAS, TX--(MARKET WIRE)--Oct 10, 2006 -- NewMarket Technology, Inc., (OTC BB:NMKT.OB - News) and Action Products International, Inc., (NASDAQ:APII - News) today announced executing a non-binding letter of intent (LOI) regarding the possible acquisition of all NewMarket outstanding common stock by Action Products in exchange for APII common stock. The letter of intent includes specific consideration for the respective shareholders of each Company.
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Consideration for NewMarket Shareholders
NewMarket common stock would be valued in the transaction at not less than $0.50 per share for a total transaction value to NewMarket shareholders of approximately $100 million. The $0.50 per share purchase price is a minimum and not a constraint to the actual valuation. The actual NewMarket common stock purchase price could be higher.
