Third-party bidder looking to pay $10.69 million for Telehop

TORONTO – Telehop Communications Inc. announced Friday it has a $10.69 million offer for all the equity interest in the company, subject to an amalgamation agreement that must be completed within 45 days of signing. The offer currently expires on July 4. The maximum per share price is 80 cents based on the 13,363,500 shares outstanding as of June 10. The offer imposes a number of other conditions upon the company typical in an offer of this type, including but not limited to allowing the bidder to reduce the offer price on a dollar for dollar basis should working capital...