BroadVision, Vector Capital cancel merger
Fri Nov 18, 2005 07:39 PM ET
NEW YORK, Nov 18 (Reuters) - Private equity firm Vector Capital Corp. has canceled an agreement to acquire software company BroadVision Inc. (BVSN.O: Quote, Profile, Research) , BroadVision said on Friday.
BroadVision said the deal was halted after the company failed to muster a quorum of shareholders to approve the merger. BroadVision said it will pay Vector Capital $980,000 to reimburse expenses. The company expects to make the payment in January 2006, it said in a statement.
BroadVision Chairman and Chief Executive Officer Pehong Chen purchased the company's outstanding senior subordinated convertible notes for $15.4 million, BroadVision said.
© Reuters 2005. All Rights Reserved.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq and all other quotes delayed by at least 15 minutes. Reuters does not endorse the views or opinions given by any third party content provider.
Fri Nov 18, 2005 07:39 PM ET
NEW YORK, Nov 18 (Reuters) - Private equity firm Vector Capital Corp. has canceled an agreement to acquire software company BroadVision Inc. (BVSN.O: Quote, Profile, Research) , BroadVision said on Friday.
BroadVision said the deal was halted after the company failed to muster a quorum of shareholders to approve the merger. BroadVision said it will pay Vector Capital $980,000 to reimburse expenses. The company expects to make the payment in January 2006, it said in a statement.
BroadVision Chairman and Chief Executive Officer Pehong Chen purchased the company's outstanding senior subordinated convertible notes for $15.4 million, BroadVision said.
© Reuters 2005. All Rights Reserved.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq and all other quotes delayed by at least 15 minutes. Reuters does not endorse the views or opinions given by any third party content provider.