UK ringtones specialist Monstermob has urged its shareholders to stick by Spanish rival LaNetro Zed’s takeover offer, despite receiving a higher bid from Chinese group Linktone. The Chinese firm said Thursday that it might bid about $82 million in stock for Monstermob..Zed has already offered about $66.4 million to buy new Monstermob shares that would give it 52.6 percent of the company.
Hemscott: In the absence of a firm bid from Linktone, the Monstermob board is urging shareholders to back the LaNetro deal and all proxies giving the chairman discretion on the vote will be voted in favour of LaNetro. They say LaNetro’s proposal “provides a solution to Monstermob’s funding needs”.
Related:
—Linktone Ready To Bid For Monstermob If LaNetro Zed Deal Doesn’t Get Approved
—LaNetro Buys 52.5 Percent Majority Stake in Monstermob For $66.5 Million