Five existing Procurri shareholders, including former controlling shareholder DeClout, had over the past couple of weeks openly stated their intention to reject Novo Tellus offer of 36.5 cents per share.
Investment firm Novo Tellus’ partial offer for IT equipment seller Procurri Corp has fell through. At the close of the offer period, Novo Tellus received acceptance of just 8.55%.
Combined with shares already held by concerted parties, including Procurri’s management, Novo Tellus controls just 37.37% of the - significantly short of the minimum of 51% needed for the offer to go through.
