Lots of activity throughout the day on Monstermob’s acquisition saga:
—Linktone says it is ready to make a formal offer for MonsterMob “within hours” of MonsterMob’s EGM on Friday, provided MonsterMob shareholders vote down the LaNatro Zed SA proposal. It added that its offer, which values each MonsterMob share at $1.31, is “clearly superior” to the LaNatro offer, and expects completion of the transaction (if agreed) in early May.
—Linktone will agree to provide funding to meet MonsterMob’s financial obligations from offer until closing.
—MonsterMob has reiterated its support for Zed’s proposal after having “carefully considered” Linktone offer…it therefore continues to recommended that shareholders vote in favour of the enabling resolutions at EGM.
—Zed said it has irrevocable undertakings from shareholders with 33.1 percent of MonsterMob’s shares.
—Zed has authorized MonsterMob to postpone “earn out payments” with former shareholders of recently acquired company Mobicom.