The offer represented just under 4% of fully diluted outstanding shares of NetPerceptions’ common stock and was conditional on at least 51% of NetPerceptions’ shares having been validly tendered and not withdrawn.
Obsidian seems relentless in its bid to acquire the Minneapolis, Minnesota-based customer interaction software firm. Obsidian remained undeterred even after an earlier all-stock offer that had valued NetPerceptions at about $0.56 per share in a two-for-one exchange (a 45% premium over NetPerception’s share price) was similarly rejected outright in January.
NetPerceptions’ board said it still favors its original liquidation plan drafted last October. This plan would offer shareholders between $0.41 and $0.45 a share in cash.
NetPerceptions was once considered a rising star in the Web and analytic CRM space, but its ambition was way out of synch with its resources and customer base despite its technological headstart over larger players that subsequently took market share away from the company.
This article is based on material originally published by ComputerWire
