Brad Greenspan’s BroadWebAsia Wants Majority Stake In linktone
By Joseph Weisenthal - Tue 29 Jan 2008 07:09 AM PST
BroadWebAsia, an investment firm started by Brad Greenspan, has offered to buy a majority share of Chinese mobile content and applications provider linktone (NSDQ: LTON), challenging a November offer from Indonesian media group PT Media Nusantra Citra (MNC). The firm says it will purchase 60 percent of linktone, by acquiring 6 million American Depository Shares (ADSs) at $4.18 each and then buy another $10 million worth of shares on the open market at prices up to $4.18. The offer represents a 30 percent premium to Monday’s closing price and BWA notes that it’s 10 percent better than MNC’s offer of $3.80. As part of the deal, Greenspan would serve as linktone chairman and have the right to nominate four directors. Lots more details here on MocoNews.
