UNITED BUSINESS MEDIA OFFERS TO ACQUIRE MEDIALINK.United Business Media (UBM UBM United Business Media Plc (London) UBM Under-Bump Metallization UBM UniCredit Banca Mobiliare S.p.A. (Italy) UBM United Bikers of Maine UBM Unbalanced Magnetron UBM Ultimate Building Machine ; London) has offered to acquire all the outstanding shares of MediaLink Worldwide Inc. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) for $5 per share in cash, or about $29 million. The offer represents a premium of 46% over Media- Link's average closing price of the last six months and 49% over the $3.35 per share closing price on Aug. 13, one day before the offer was made. UBM will fund the purchase from existing cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. . MediaLink is a provider of corporate multimedia news content. Its principal business is the production and distribution of corporate video news content, particularly video news releases (VNRs) related to product launches. It reported revenues of $56.4 million in 2000 and $26.8 million for the first half of 2001. Under the purchase proposal, MediaLink will be merged with UBM's PR Newswire  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . division, which had revenues of $174.4 million in 2000. PR Newswire provides a range of communications services, including information distribution, market intelligence and the creation of online multimedia content and investor relations Investor relations The process by which the corporation communicates with its investors. Web sites. The company supplies news releases, video, audio and photos to the media, financial community and investors. It has 40,000 customers and 40 news bureaus. PR Newswire ceo Charles Morin said that "after evaluating a range of strategic options that would enable PR Newswire to enter the video news release segment...we have identified a potential merger with MediaLink as the most attractive alternative." UBM executive director Charles Gregson Charles Gregson (born June 7, 1947) is a British businessman. A graduate of Trinity Hall, Cambridge University, he has an MA in Law and is a qualified solicitor. He joined MAI plc in 1974 as group solicitor and became a director of that company in 1984. said his company considered the proposal the "most desirable route among many," including an in--house service launch or bringing in another partner. "While we would prefer to enter into discussions that would lead to a formal merger agreement, we are prepared to consider a range of steps should MediaLink's Board choose not to recognize the value of our all-cash, premium offer," Gregson said. |
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