Wednesday, December 5, 2007

Critical Path Pursues Privatization

Critical Path, which provides messaging software and services to mobile operators, announced a privatization agreement with CP Holdco and CP Merger Co., a California corporation and wholly owned subsidiary of Newco (Merger Sub). Under the deal, holders of Critical Path's common stock (other than Newco and shareholders entitled to and who properly exercise dissenters' rights under California law) will receive $0.102 in cash (without interest and less any required withholding taxes) for each share of common stock they own. Newco is beneficially owned and controlled by certain affiliates of General Atlantic, LLC (collectively, "General Atlantic"), certain affiliates of Cheung Kong (Holdings) Limited (collectively, "Cheung Kong") and certain other shareholders of Critical Path.

http://www.criticalpath.net

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