Pomeroy IT Solutions Comments on Schedule 13D Filing by Large Stockholder
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Pomeroy IT Solutions (NASDAQ:PMRY), a technology and services solutions
provider, announced today that its Board of Directors has received a
letter from David B. Pomeroy, II, a director of the Company and its
largest stockholder, proposing to acquire, with a financial partner, all
of the outstanding common stock of the Company not owned by him for a
price of $7.05 per share. The letter identifies Charlesbank Equity Fund
VI, LP as his financial partner. A copy of the letter was also filed as
an exhibit to a Schedule 13D filing that Mr. Pomeroy made with the
United States Securities Exchange Commission on April 8, 2008. This
non-binding indication of interest from Mr. Pomeroy has been referred to
a Special Committee for review. The Special Committee will consider Mr.
Pomeroy’s offer as well as explore a range of
other alternative transactions that could enhance stockholder value.
About Pomeroy IT Solutions, Inc.
Pomeroy IT Solutions, Inc. is a leading provider of IT infrastructure
solutions focused on enterprise, network and end-user technologies.
Leveraging its core competencies in IT Outsourcing and Professional
Services, Pomeroy delivers consulting, deployment, operational, staffing
and product sourcing solutions through the disciplines of Six-Sigma,
program and project management, and industry best practices. Pomeroy's
consultative approach and adaptive methodology enables Fortune 2000
corporations, government entities, and mid-market clients to realize
their business goals and objectives by leveraging information technology
to simplify complexities, increase productivity, reduce costs, and
improve profitability. For more information, go to www.pomeroy.com.
Forward-Looking Statements
Certain of the statements in the preceding paragraphs may contain
projections and other forward-looking statements. While these statements
are related to future events and represent our best current judgment,
they are subject to risks and uncertainties that could cause actual
results to vary. These risks and other factors include but are not
limited to: changes in customer demands or industry standards; existing
market and competitive conditions, including the overall demand for IT
products and services; adverse or uncertain economic conditions; loss of
key personnel; the nature and volume of products and services
anticipated to be delivered; the mix of the products and services
businesses; the type of services delivered; the ability to successfully
attract and retain customers and to sell additional products and service
to existing customers; the ability to timely bill and collect
receivables; the ability to maintain a broad customer base to avoid
dependence on any single customer; the need to successfully attract and
retain outside consulting services; terms of vendor agreements and
certification programs and the assumptions regarding the ability to
perform there under; the ability to manage risks associated with
customer projects; litigation; and the ability to attract and retain
technical and other highly skilled personnel. These statements are only
predictions. Actual events or results may differ materially.