Pomeroy IT director increases offer for company to $6 per share

By Lisa Kerner

Charlotte, N.C., June 22 - Pomeroy IT Solutions Inc. said it amended its merger agreement with Hebron LLC, a holding company owned by company director and 17% stockholder David B. Pomeroy II.

Hebron increased its purchase price for Pomeroy IT to $6.00 per share from $5.02.

The amended agreement represents an equity value for Pomeroy IT of approximately $59.2 million, a Pomeroy IT news release said.

Pomeroy said it received two offers from an unaffiliated third party during the go-shop period under the merger agreement with Hebron that ended on June 7.

In February, Pomeroy IT announced that its board of directors formed a special committee to consider director Pomeroy's offer to acquire the company for $4.50 per share.

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

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