North & Webster Withdraws Proxy Contest in Light of CSP Inc.'s Recent Statements it Will "Prudently Consider" and "Turn To" North & Webster's Recent $7.00 Acquisition Offer Following Conclusion of 2013 Annual Meeting
NEW YORK, Feb. 12, 2013 /PRNewswire/ -- North & Webster, LLC ("North & Webster") announced today that it has withdrawn its proxy contest with CSP Inc. (NasdaqGM: CSPI) ("CSP" or the "Company") in light of the Company's recent statements in both a recent release and earnings conference call that following the 2013 Annual Meeting the Company will "prudently consider" and "turn to" North & Webster's $7 per share offer to acquire the Company. North & Webster's primary purpose for conducting this proxy contest was in furtherance of urging the Board to immediately commence meaningful discussions with North & Webster or announce a sale process, and in light of these recent statements believes it is no longer necessary to run a contested slate of directors. North & Webster remains as determined as ever to negotiate and consummate a value-maximizing transaction and looks forward to engaging in discussions with the Board around its $7 acquisition proposal upon the conclusion of the 2013 Annual Meeting.
If you have any questions or require any assistance with your vote, please contact Steve Balet at SCB Advising, Inc., who is assisting us, at 1-877-786-3323 or 1-646-290-5243.
North & Webster
Sam Kidston , +1-617-395-8121
SOURCE North & Webster, LLC
More by this Source
North & Webster Withdraws $7.00 Acquisition Offer for CSP Inc.
Feb 28, 2013, 19:03 ET
North & Webster Raises Offer To Acquire CSP To $7.00 Per Share In Cash
Feb 07, 2013, 08:10 ET
North & Webster Responds to CSP Inc.'s Letter to Stockholders
Feb 05, 2013, 14:27 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.