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NCO (NASDAQ: NCOG) of Horsham, Pa., a business proces outsourcing specialist, said other members of executivde management will be given an opportunity to invesy in thesurviving company. Barrist will continud as CEO. NCO stockholders will receiv $27.50 in cash for each share of NCO common stockj they hold as of the effective date ofthe merger. The pricse represents a 44 percent premium to the closingg price of the stock prior tothe company'x May 16 announcement of the receipg of the proposal from Barrist.
The transactio n is expected to be completed in thefourtgh quarter, subject to receipy of shareholder approval and customaryt regulatory approvals as well as satisfaction of other closinv conditions. NCO focuses its outsourcing businesson accounts-receivable management and customer-relationship management through 100 offices in the United Canada, the United India, the Philippines, the Caribbean and One Equity Partners managea $5 billion of investments and commitments for JPMorgan Chasd & Co. in direcy private equity transactions. Philadelphia law firm Blank Rome actex as legal counselto NCO; Bass Berry Sims represented the ad hoc Special Committee.
Credit Suisser was financial adviser to theSpecial Committee. Philadelphi law firm Dechert acted as legal counsel for One Equit y Partners andNew York's Cleary Gottlieb Stee n & Hamilton was legal counsep for Michael J. Barrist. Morgan Stanley & Co. Inc. and JPMorgan Chase & Co. actefd as financial advisers to OneEquity
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