Limelight Network Receives Unsolicited Offer to Purchase from Questionable Source
15 Giugno 2014 - 4:35PM
Business Wire
Management Does Not Believe Proposed Acquirer
Has the Ability to Complete Transaction
Limelight Networks (Nasdaq:LLNW), a global leader in digital
content delivery, today announced that it has received an
unsolicited offer to purchase the company from an entity that
management believes is a non-credible source. Under the proposal,
first reported by media outlets, then confirmed via phone and
follow up email, on June 13, Tuition Build Inc. has offered to
purchase and take private Limelight Networks for $644.7 million or
$6.55 per share if certain unspecified financial thresholds were
satisfied.
Representatives of the company contacted Tuition Build to make
inquiries regarding its proposal and ability to complete the
proposed transaction. Based on these inquiries, as well as
independent investigations of Tuition Build, management has
concluded that Tuition Build does not have the experience,
credentials, financial resources, or capability to complete the
proposed transaction, and that Tuition Build’s stated interest in
acquiring Limelight Networks is not an actionable proposal.
Accordingly, management believes current and prospective investors
in Limelight Networks should disregard Tuition Build’s
proposal.
Safe-Harbor Statement
This press release contains forward-looking statements.
Forward-looking statements represent the current judgment and
expectations of Limelight Networks and are not guarantees and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially including, but not limited to,
risks and uncertainties discussed in the Company's Annual Report on
Form 10-K and other filings with the Securities and Exchange
Commission and the final review of the results and amendments and
preparation of quarterly or annual financial statements, including
consultation with our outside auditors. Accordingly, readers are
cautioned not to place undue reliance on any forward-looking
statements. The Company assumes no duty or obligation to update or
revise any forward-looking statements for any reason.
About Limelight
Limelight Networks (NASDAQ:LLNW), a global leader in
digital content delivery, empowers customers to better engage
digital audiences by enabling them to manage and deliver digital
content on any device, anywhere in the world. The Company's award
winning Limelight Orchestrate™ platform includes an integrated
suite of content delivery technology and services that helps
organizations deliver exceptional multi-screen experiences, improve
brand awareness, drive revenue, and enhance customer relationships
— all while reducing costs. For more information, please
visit www.limelight.com, read our blog, and be sure to
follow us on Twitter at www.twitter.com/llnw.
famaPR on behalf of Limelight NetworksTed Weismann,
617-986-5009limelight@famapr.com
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