LookSmart 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.
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