Quote:
Originally Posted by RawAlex
The numbers are interesting, plenty of cash on hand, but the company appears to be having negative results - which isn't a good sign, considering where the majority of their money is made.
Manwin on the other hand would almost certainly love to reverse merger themselves into the company, becoming public without hardly any of the effort.
It should be noted that FFN had a big run up not that long ago, which looked a whole lot like speculators playing a game. I think perhaps the price over there went up too fast for a takeover. There are too many people still holding shares from the get go, and too many legal issues I think for anyone to seriously consider action at FFN. NOOF looks like a much better reverse merger candidate.
|
Yea, well we are holding shares of NOOF, and this is nowhere near it's value.
You'alls friends over at AEBN are probably keeping a close eye on this one too.....
BOULDER, Colo., March 23, 2012 /PRNewswire/ — New Frontier Media, Inc. (NasdaqGS: NOOF), a leading provider of
transactional television services and distributor of general motion picture entertainment, confirmed that it has received an unsolicited,
non-binding, conditional acquisition proposal from Manwin Holding SARL, a provider of adult entertainment, through online,
television and mobile distribution platforms, indicating its interest in pursuing the acquisition of all of the outstanding shares of New
Frontier Media for $1.50 per share in cash, subject to due diligence and other conditions.
As previously announced, earlier this month, New Frontier Media also received an unsolicited, non-binding, conditional acquisition
proposal from Longkloof Limited, an investment holding company, indicating its interest in pursuing the acquisition of all of the
outstanding shares of New Frontier Media not owned by Longkloof for $1.35 per share in cash, subject to due diligence and other
conditions.
The Board of Directors of New Frontier Media has formed a Special Committee of independent directors which will carefully review,
with its financial and legal advisors, the acquisition proposals received from Manwin and Longkloof, as well as any other acquisition
proposal that may be received by the Company, and then determine the appropriate response to these proposals.
The Special Committee is being assisted in its consideration of these acquisition proposals by its legal advisor, Blank Rome LLP, and
is currently in the process of selecting a financial advisor. New Frontier Media is being advised by Holland & Hart LLP.
New Frontier Media advises shareholders that they need not take any action at this time in response to either acquisition proposal
pending review by New Frontier's Special Committee.
Maybe I can talk'em into $20 cash, and using the company to finance the rest?
:-)