Business Services Industry
Broadcast International Inc. to review merger proposal
Business Wire, Nov 10, 1994
MIDVALE, Utah--(BUSINESS WIRE)--Nov. 10, 1994--The board of directors of Broadcast International Inc. (NASDAQ/NMS:BRIN) Thursday announced its intention to review and evaluate a merger proposal received from Data Broadcast Corp. (NASDAQ/NMS:DBCC).
DBCC has proposed to acquire Broadcast in a business combination whereby each share of Broadcast common stock would be exchanged for $6 in value of DBCC common stock, based on a formula to be determined.
The board of directors of BRIN will work closely with its financial advisors, Wertheim Schroder & Co. Inc., to carefully evaluate the proposal in light of the fundamental value of BRIN's businesses with the goal of maximizing value to shareholders.
CONTACT: Broadcast International Inc., Midvale
Nicholas Ruitenberg, 801/562-2252
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