Merisel wants American Capital Strategies to complete merger transaction

By Lisa Kerner

Charlotte, N.C., June 6 - Merisel, Inc. disputed American Capital Strategies, Ltd.'s claim that Merisel experienced a material adverse effect, according to a form 8-K filing with the Securities and Exchange Commission.

It was previously reported that American Capital reserved the right to terminate its merger agreement with Merisel believing that the company had experienced a material adverse effect and would not be able to satisfy the merger agreement's closing conditions.

In a June 5 letter to the company, Merisel noted it expects American Capital to consummate the merger and cited the $3.5 million reverse termination fee payable to Merisel.

Merisel agreed to be acquired by American Capital affiliate Tu Holdings, Inc. for $5.75 per share in cash, or some $46 million, a prior news release stated.

Merisel is a New York visual communications solutions company.

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