LONDON (AFX) – Linktone Ltd said it is ready to make a formal offer for MonsterMob ‘within hours’ of MonsterMob’s EGM on Friday, provided MonsterMob shareholders vote down the LaNatro Zed SA proposal.
It added that its offer, which values each MonsterMob share at 1.31 usd, is ‘clearly superior’ to the LaNatro offer, and expects completion of the transaction (if agreed) in early May.
Linktone also said that it has agreed a mechanism to provide the ailing UK ringtone company with funding to meet its financial obligations in the period from an offer until closing.
Linktone chairman Elaine LaRoche said: ‘The Zed proposals are not an offer to shareholders but in fact will result in Zed controlling both MonsterMob and its board of directors and provide no cash or liquidity to shareholders.’
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