PhoneMate Inc, Torrance, California has reached agreement that Asahi Corp will pay $7.50 a share for the outstanding shares of PhoneMate held by public shareholders – and the price was also agreed to in concurrent negotiations between Asahi and attorneys representing a PhoneMate shareholder who had filed a class action on behalf of public shareholders objecting to the transaction as originally proposed; PhoneMate, as reported, announced that Asahi, with 49% of PhoneMate’s shares, had made an offer for the rest at $6.50 per share in cash.
PHONEMATE REACHES AGREEMENT WITH ASAHI CORP
