MathStar Responds to Merger Proposal From PureChoice Inc.
2008年10月30日 - 3:26AM
PRニュース・ワイアー (英語)
HILLSBORO, Ore., Oct. 29 /PRNewswire-FirstCall/ -- MathStar, Inc.
today acknowledged receipt of an unsolicited proposal by
PureChoice, Inc. to enter into a merger transaction with MathStar.
MathStar has rejected the proposal. In a letter delivered to
PureChoice today, MathStar explained that its Board has carefully
considered and analyzed PureChoice's merger proposal. The Board
concluded that not only was the amount of the proposed
consideration insufficient to support entering into the proposed
merger transaction but that PureChoice does not fit the profile for
a merger candidate previously established by MathStar's Board. For
these and other reasons, MathStar's Board unanimously rejected
PureChoice's merger proposal as not being in the best interests of
MathStar's stockholders and reiterated its commitment to pursue its
declared strategy. Statements in this press release, other than
historical information, may be "forward-looking" in nature within
the meaning of the Private Securities Litigation Reform Act of 1995
and are subject to various risks, uncertainties and assumptions.
These statements are based on management's current expectations,
estimates and projections about MathStar and include, but are not
limited to, those set forth in the section of MathStar's Annual
Report on Form 10-K filed with the Securities and Exchange
Commission on March 14, 2008 under the heading "Risk Factors," as
updated in our Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2008 and June 30, 2008. MathStar undertakes no
obligation to update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this release. DATASOURCE: MathStar, Inc. CONTACT: Douglas Pihl of
MathStar, Inc., +1-503-726-5500, ; or Alexis Pascal of Stapleton
Communications, +1-650-470-0200, , for MathStar, Inc. Web site:
http://www.mathstar.com/
Copyright