j2 Global (JCOM) extended its tender offer of $15.00 for shares of Carbonite (CARB) to March 30, 2015. More importantly, j2 stated that they have been in discussion with Carbonite over the terms of a proposed confidentiality agreement to permit j2 to participate in Carbonite’s previously announced potential sale process.
CARB Initially Rejected Tender Offer
As we stated in our 1/12/2015 research note , when CARB rejected JCOM’s initial tender offer, the board stated it was approached by multiple parties and was willing to explore all potential strategic alternatives, including a potential sale of the company (to j2 or otherwise) in order maximize shareholder value.
To stay ahead of the market with GeoInvesting arbitrage and learn about investment ideas not yet digested by the market, Sign up now for More Research and Insight