Global Traffic Network Sold To Merlin Media Investor
August 3, 2011 at 12:15 PM (PT)
GLOBAL TRAFFIC NETWORK has been sold private equity firm GTCR LLC, a major investor in MERLIN MEDIA, for $14 per share. THE ASSOCIATED PRESS reports, the deal would be worth $267 million based on the number of shares that the company reported as of MAY 9th."
GLOBAL wrote in a regulatory filing that "it could seek other offers until SEPT. 13th. If GLOBAL gets a better deal, it could be required to pay GTCR a breakup fee of $8.3 million, or $4.1 million before OCT. 1st," wrote THE AP.