Pomeroy IT Solutions' largest shareholder plans to make offer for company

By Angela McDaniels

Tacoma, Wash., May 22 - Pomeroy IT Solutions, Inc. said David B. Pomeroy II, a director of the company and its largest stockholder, and ComVest Investment Partners III LP plan to submit a joint proposal to acquire all Pomeroy IT Solutions shares not owned by Pomeroy for $6 each.

The director informed the company's board of his intention in a May 21 letter, according to a company news release.

Pomeroy IT Solutions said the board's special committee will consider the indication of interest as part of its ongoing exploration of alternative transactions to enhance stockholder value.

Pomeroy initially proposed acquiring the company with Charlesbank Equity Fund VI for $7.05 per share on April 9, but Charlesbank withdrew from its joint bidding agreement with Pomeroy on May 16.

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

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