wow did i get lucky on this one ! sniffed up the action and wham ! $1.00 buyout announced after the bell !!!
Commodore Confirms Tulip Computers' Intention to Acquire All of Commodore's Outstanding Shares
BAARN, The Netherlands, Sep 26, 2007 (BUSINESS WIRE) -- Commodore International Corporation (CIC) (OTC:CDRL) today confirmed Tulip Computers' intention to acquire all of the outstanding common shares of CIC. Tulip Computers is traded on the Euronext Amsterdam stock market. The offer is based on a price of approx. US$ 1.- per share outstanding.
The share price offered by Tulip Computers is an indication, based on the synergies between Tulip and Commodore' complementary market propositions, and on their respective market positions and strategy.
CIC will allow Tulip Computers to inspect its books, and is continuing the discussion on a non-exclusive basis.
CIC is positively considering the offer and will present it to its shareholders during its Annual shareholders Meeting scheduled for the end of October 2007.
According to Ben van Wijhe, CEO & President, "this offer serves well the strategic interests of both CIC and Tulip Computers through integration of the two businesses, while at the same time safeguarding the continuation of CIC's independent pursuit of its strategic goals". According to Ben van Wijhe, "the offer is also taking into consideration the IPO route already stipulated by CIC for the coming months."
About Commodore
Commodore International Corporation (OTC:CDRL) is a designer, creator and full-service provider of digital media products, content and services. The company sells a complete line of portable digital media products under the Commodore brand, and provides legal media downloads and streams which enables consumers to wirelessly access a wide catalogue of content straight from their own device.
SOURCE: Commodore International Corporation
CONTACT: Commodore International Corporation
Europe (Operational Offices)
Florence de Leeuw-Wong
Senior Communications Manager
Tel: +31 (0)35 528 81 50
Fax: +31 (0)35 528 81 51
corporate@commodorecorp.com
www.commodorecorp.com
Copyright Business Wire 2007
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KEYWORD: Netherlands
Europe
INDUSTRY KEYWORD: Technology
Consumer Electronics
Hardware
Other Technology
SUBJECT CODE: Merger/Acquisition
Product/Service
