Pomeroy IT Solutions to concentrate on operating plan following completion of strategic review

By Lisa Kerner

Charlotte, N.C., Oct. 20 - Pomeroy IT Solutions Inc.'s special committee has completed its review process, including the review of director David Pomeroy II's unsolicited proposals.

The committee decided to cease all further special committee activities and focus on Pomeroy IT Solutions' execution against its operating plan, a company news release said.

As previously reported, Pomeroy withdrew the joint proposal he made to acquire the company along with his ComVest Investment Partners III LP.

Pomeroy said he does not intend to seek out another financial partner or alternative financing for a possible transaction, according to the release.

On May 22, the company said that its board had received a letter from Pomeroy, its founder and largest stockholder, proposing to acquire with ComVest all of the outstanding common stock of the company not owned by him for a price of $6 per share.

Pomeroy IT Solutions is a Hebron, Ky.-based provider of information technology services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.