American Mobile Systems Inc of Woodland Hills, California has announced that it will waive its right to require Fleet Call Inc to effect a cash merger: the company’s right expires on June 30, and William Young, president and chief executive officer of the company says that when the agreement was first entered into, the effect on Mobile Systems’ valuation for changes in the regulatory environment was not considered in the pricing formula for the cash merger; also, the delivery date for new technology has accelerated and enhanced the value of the company; Mobile Systems has also announced that it is working with Reinheimer & Co, an investment banking firm, to explore alternatives for meeting Fleet’s obligations to repay the balance of its subordinated debt, including the sale of its non-strategic systems, and or an equity placement.
