Verizon Extends Tender Offer for Shares of Terremark Worldwide, Inc
March 15, 2011 11:10 AM
Verizon Communications Inc. (NYSE: VZ) today announced that it has extended its tender offer for all outstanding shares of Terremark Worldwide, Inc. (Nasdaq: TMRK). The tender offer is now scheduled to expire at midnight Eastern time on Thursday, March 31, 2011, unless extended in accordance with the terms of the definitive agreement and the applicable rules and regulations of the Securities and Exchange Commission.
The tender offer, for $19.00 per share in cash without interest and less any required withholding taxes, is being made by Verizon Holdings Inc., a wholly owned subsidiary of Verizon, pursuant to a previously announced Agreement and Plan of Merger, dated Jan. 27, 2011, as amended, by and among Verizon, Verizon Holdings Inc. and Terremark.
Verizon also announced that yesterday it received from the U.S. Department of Justice a second request for information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). Verizon will cooperate with the Department of Justice to comply promptly with the second request for information.
