GEEKNET INC. CONFIRMS THE RECEIPT OF A COMPANY ACQUISITION PROPOSAL
FAIRFAX, Va., May 27, 2015 /PRNewswire/ — Geeknet, Inc. (Nasdaq: GKNT, the “Company”) today acknowledged the receipt of an unsolicited offer from a strategic buyer (the “Bidder”) to acquire all of the outstanding common stock of the Company for $20.00 per share in cash.
As previously announced, the Company entered into an Agreement and Plan of Merger dated as of May 25, 2015, with Hot Topic Inc. (“Hot Topic”) (the “Merger Agreement”) pursuant to which Hot Topic agreed to acquire all of the outstanding common stock of the Company for $17.50 per share in cash.
The Company’s board of directors, in consultation with its legal and financial advisors, will carefully review and consider the Bidder’s proposal.
The Company remains subject to the Merger Agreement and the Company’s board of directors has not changed its recommendation in support of the Merger Agreement. The Company’s board of directors will have no further comment on the Bidder’s proposal until it has completed its review.
Stop breadboarding and soldering – start making immediately! Adafruit’s Circuit Playground is jam-packed with LEDs, sensors, buttons, alligator clip pads and more. Build projects with Circuit Playground in a few minutes with the drag-and-drop MakeCode programming site, learn computer science using the CS Discoveries class on code.org, jump into CircuitPython to learn Python and hardware together, or even use Arduino IDE. Circuit Playground Express is the newest and best Circuit Playground board, with support for MakeCode, CircuitPython, and Arduino. It has a powerful processor, 10 NeoPixels, mini speaker, InfraRed receive and transmit, two buttons, a switch, 14 alligator clip pads, and lots of sensors: capacitive touch, IR proximity, temperature, light, motion and sound. A whole wide world of electronics and coding is waiting for you, and it fits in the palm of your hand.
Have an amazing project to share? The Electronics Show and Tell with Google Hangouts On-Air is every Wednesday at 7:30pm ET! To join, head over to YouTube and check out the show’s live chat – we’ll post the link there.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — Trade war rolls on, effects will have lasting implications
Wearables — When you need support
Electronics — LED colors: what they tell you
Biohacking — The Prebiotic Advantage
Python for Microcontrollers — CircuitPython Day Celebrations! #Python #Adafruit #CircuitPython #PythonHardware @circuitpython @micropython @ThePSF @Adafruit
No comments yet.
Sorry, the comment form is closed at this time.