Brief: ARC Document Solutions Says Received Non-Binding Proposal From Co's Chairman And CEO Kumarakulasingam Suriyakumar

ARC Document Solutions

01/07/2024 15:05

July 1 (Reuters) - ARC Document Solutions Inc  ARC.N :
    * ARC DOCUMENT SOLUTIONS INC - RECEIVED NON-BINDING PROPOSAL
ON
APRIL 8, FROM CO'S CHAIRMAN AND CEO KUMARAKULASINGAM SURIYAKUMAR
    * ARC DOCUMENT-PROPOSAL OUTLINING SURIYAKUMAR'S INTENT TO
EXPLORE,EVALUATE POTENTIAL ACQUISITION OF CO IN GOING-PRIVATE
TRANSACTION AT $3.25/ SHARE
    * ARC DOCUMENT - ON JUNE 27, ACQUISITION GROUP AGREED IN
PRINCIPLE
THAT THEY WILL WORK WITH EACH OTHER TO NEGOTIATE AND CONSUMMATE
PROPOSED TRANSACTION
    * ARC DOCUMENT SOLUTIONS - ACQUISITION GROUP CURRENTLY
BENEFICIALLY OWNS ABOUT 19.6% OF CO'S OUTSTANDING SHARES OF
COMMON STOCK
    * ARC DOCUMENT SOLUTIONS - IN RESPONSE TO PROPOSAL, ON APRIL
8,
SPECIAL COMMITTEE OF BOARD WAS FORMED TO REVIEW, EVALUATE
PROPOSED TRANSACTION
    * ARC DOCUMENT SOLUTIONS INC - SPECIAL COMMITTEE INTENDS TO
CAREFULLY CONSIDER PROPOSED TRANSACTION

Source text for Eikon:  ID:n0001305168-24-000059 
Further company coverage:  ARC.N 

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