TNAV - Telenav special committee confirms receipt of non-binding go private proposal

Telenav (TNAV) has confirmed it has received a proposal from V99 to acquire all of the outstanding shares for $4.32 per share in cash in a “go private” transaction structured as a reverse triangular merger. The special committee will carefully review the proposal and will also consider all potential strategic alternatives to maximize shareholder value. The company shareholders are advised to take no action at this time. Source: Press Release

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Telenav special committee confirms receipt of non-binding “go private” proposal