Business Services Industry
Internet America Inc cancels proposed merger with KeyOn Communications Holdings Inc
Internet Business News, Feb 25, 2009
INTERNET BUSINESS NEWS-(C)1995-2009 M2 COMMUNICATIONS LTD
Internet America Inc (OTCBB: GEEK.OB), an Internet service provider, reported yesterday (24 February) that it has terminated its proposed merger with KeyOn Communications Holdings Inc.
The company said that it cancelled the merger agreement on 19 February because KeyOn was unable to materially comply with certain covenants and conditions to closing. Details were not disclosed.
The merger agreement between Internet America and KeyOn was signed in November 2008.
Internet America said that it is pursuing its right to a termination fee and expenses as per the merger agreement.
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COPYRIGHT 2009 Gale, Cengage Learning
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