LookSmart Responds to Extension of Unsolicited Tender Offer by PEEK Investments
LookSmart (Nasdaq: LOOK) today responded to the press release issued by PEEK Investments, LLC (PEEK) on August 13, 2012, in which PEEK announced the extension of its unsolicited tender offer to acquire LookSmart for $1.00 per share in cash. Specifically, LookSmart noted that PEEK did not report in its announcement that on August 10, 2012 Michael Onghai, President of PEEK, contacted LookSmart Board member Mark Sanders to express his desire to join the LookSmart Board of Directors. Additionally, LookSmart noted that PEEK publicly disclosed in its announcement its plan to submit a proposal to LookSmart's Board of Directors by 5:00 pm Pacific Daylight Time on August 13, 2012, as invited by the LookSmart Board. As of the close of business on August 14, 2012, PEEK had not submitted any such proposal.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.