OIIM - O2Micro stock gains aftermarket on updated acquisition proposal

O2Micro International (NASDAQ:OIIM) stock rose 19% postmarket on Friday as the firm received an updated prelim. non-binding proposal letter from a consortium to acquire all outstanding shares for $5.50/ADS (or $0.11/ordinary share in cash). The consortium is comprised of FNOF Precious Honour, OIIM CEO Sterling Du, OIIM CFO Perry Kuo and a director of the firm. The letter said the consortium members agreed to work exclusively with each other to pursue the proposed deal and they will not sell their ordinary shares or ADSs to any third party or support any competing bid while remaining in the consortium. OIIM formed a special committee to evaluate the proposed deal or any alternative strategic option that it may pursue. The committee will continue to evaluate the proposal in light of the latest development. There can be no assurance that the consortium will make any definitive offer to OIIM or that any definitive deal

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O2Micro stock gains aftermarket on updated acquisition proposal