TACAW, people over reacting. If shareholder's voted against the merger then it was prob. for the best. IF AVIEL was going to bring more value to the company then the shareholder's wouldn't have turned down the merger. Read the pr about the merger. Now TACAW doesn't have to payoff a $40 million dollar debt and gets to keep $60 million dollars! Doesn't sound bad to me?
GREENWICH, CT--(MARKET WIRE)--Jun 12, 2006 -- TAC Acquisition Corp. ("TAC") (OTC BB:TACA.OB - News) (OTC BB:TACAU.OB - News) (OTC BB:TACAW.OB - News) announced today the signing of a definitive agreement to merge with privately owned AVIEL Systems, Inc. ("AVIEL" or the "Company") of McLean, Virginia, a provider of information technology services to the federal government in areas critical to national security, defense and transportation. According to the terms of the agreement, TAC will acquire all of the outstanding capital stock of AVIEL for approximately $60 million, and will assume approximately $40 million of AVIEL's existing debt, which will be repaid immediately following closing. AVIEL's existing shareholders will receive $35 million in cash and approximately $25 million(1) of stock in the combined company.
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