Log in to your IBTimes Account

close
ID
Password

PeopleSupport Gets Takeover Offer



By AP
30 November 2007 @ 06:57 pm EST

LOS ANGELES - PeopleSupport Inc., an offshore business process outsourcing provider, said Friday it received a takeover offer worth $15 per share from IPVG Corp. and AO Capital Partners.

Related Topic

Get stories by e-mail on this topic.

  • PSPTPHL | RSS
  • PeopleSupport | RSS
  • Offer | RSS
E-mail:
Quotes
PSPT 12.11 0.04

SYMBOL LOOKUP

The offer is an 18 percent premium to its closing price Thursday of $12.72.

PeopleSupport had about 23.8 million shares outstanding at the end of the third quarter, valuing the deal about $356.3 million.

The company, which operates call centers primarily in the Philippines, said its board plans to evaluate the unsolicited proposal and that its board recommends shareholders defer making any decision on the matter.

Philippines-based IPVG operates information technology and BPO businesses, while AO (American Orient) Capital Partners offers investment banking services.

Shares of PeopleSupport rose $1.33, or 10 percent, to close at $14.05 and added 53 cents to $14.58 in after-hours trade. The stock has traded in a 52-week range of $8.19 to $24.41.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Industries
Perini Corp., a civil and commercial construction contractor, said Friday its shareholders approved the acquisition of privately-held Tutor-Saliba Corpor...
The number of rigs actively exploring for oil and natural gas in the United States fell by 18 this week to 2,013. Of the rigs running nationwide, 1,586 w...
Shares of Aflac Inc. rose Friday, just days before the insurer is set to provide an update on its efforts in the Japanese market. Its stock gained 73 cen...

Advertisement
Corporate Website Design

Professional Website Design For Corporate - Get a Free Quote Today

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives