Blackford Capital to Acquire Moro Corp. [Yahoo! Finance]
MORO CORP (MRCR)
NASDAQ:AMEX Investor Relations:
morocorp.com
Company Research
Source: Yahoo! Finance
they have entered into a definitive merger agreement under which Blackford Capital will acquire Moro Corporation in an all-cash transaction for a total enterprise value of approximately $34.2 million (or approximately $5.59 per share). Approximately, $3.3 million (or approximately $0.55 per share) of the purchase price is subject to certain escrow and holdback provisions of the merger agreement. The transaction has been approved by the boards of directors of both companies and is subject to customary closing conditions. Stockholders of Moro Corporation holding the requisite majority of shares have approved the transaction. The transaction is expected to close promptly. Upon closing of the transaction quotation of the Moro Corporation's shares on the OTC will be suspended. McGuireWoods LLP served as legal advisor to Blackford Capital. Harter Secrest & Emery LLP served as legal advisor and Paramax Corporation served as financial advisor to Moro Corporation. About Blackford Capital
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