Cuban to Vote Against Register.com Sale

[suntech]

From TheWHIR.com

Cuban to Vote Against Register.com Sale

August 11, 2005 -- (WEB HOST INDUSTRY REVIEW) -- Mark Cuban said on Wednesday that he would vote against the proposed sale of Register.com (register.com) to Vector Capital Corporation, according to a report by the Associated Press.

Earlier this week, Register.com announced that it would be taken private and acquired by Vector Capital for approximately $200 million in cash.

Cuban, owner of the NBA's Dallas Mavericks, owns 3.3 million shares or 13.2 percent of the domain registrar and Web hosting provider. He said in a statement that the deal is not in the best interests of shareholders.

"The $200 million offering price does not come close to fairly valuing the business of this company," Cuban said. "In fact, I believe the transaction would be disastrous to the interests of the stockholders."

In June, Register.com rejected an acquisition offer tabled by RCM Acquisition Co. The offer was for $7.10 per share in cash. Vector Capital is prepared to pay $7.81 per share.

Register.com trades on the NASDAQ and recently regained compliance with the minimum bid price rule.

J.K.

 

[Acroplex]

Register.com - once the #2 registrar after Network Solutions - is currently in the pits but still having dellusions of grandeur.

 

[Dave_Z]

Register.com - once the #2 registrar after Network Solutions - is currently in the pits but still having dellusions of grandeur.

They're probably trying to "emulate" netsol's "struggle" to earn a lot or remain
on the top, whichever priority's more important for them...and not having a lot
of success, it seems. :D

I recall there's an article where Register.com was cited for their outstanding
customer service somewhere. I don't remember where exactly, though.