Market Overview

Edgewater Retains Financial Advisor to Evaluate AMERI and Lone Star Proposals

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Edgewater Technology,
Inc. (NASDAQ: EDGW), a leading consulting firm that helps business leaders
drive transformational change through its unique selection of business and
technology services and specialized product-based solutions, today announced
that its Board of Directors has retained Signal Hill Capital Group LLC to
serve as financial advisor to the Company.
Signal Hill, along with legal advisors, Hinckley, Allen & Snyder LLP and
Jones Day, will assist Edgewater's Board of Directors in evaluating the
unsolicited all-stock proposal received from AMERI Holdings, Inc. The Board
of Directors is reviewing the AMERI Holdings proposal to determine the
course of action that it believes is in the best interests of the Company
and all of its stockholders.
The Board of Directors is also aware of the effort by a Company stockholder,
Lone Star Value Investors, LP, and others to solicit stockholder consents to
remove certain directors from the Board and to implement certain other
proposals regarding the Company. The Board and Company management value
input from all of the Company's stockholders. The Board, with advice from
its financial and legal advisors, will evaluate the Lone Star proposals and
provide recommendations to stockholders regarding the associated consent
solicitation based on the best interests of the Company and all of its
stockholders.
The Board of Directors will complete its evaluation of these matters in due
course and will advise stockholders of the outcome of its review at that
time.

Posted-In: M&A News Press Releases

 

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