logo
Share SHARE
FONT-SIZE Plus   Neg

New Frontier Retains Financial Advisor To Assist In Evaluating Alternatives

New Frontier Media, Inc. (NOOF) announced that the Special Committee of the Board of Directors of the company has retained Avondale Partners, LLC as its financial advisor to examine and consider a broad range of strategic alternatives.

The company state that the strategic review will evaluate the Company's current long-term business plan against a broad range of alternatives that have the potential to maximize shareholder value. The process to review strategic alternatives will be overseen by the Special Committee of independent directors that, as previously announced, is also evaluating the recent unsolicited non-binding acquisition proposals that were recently received by New Frontier Media.

The Special Committee is also being assisted by its legal advisor, Alston & Bird LLP. New Frontier Media is being advised by Holland & Hart LLP, the company said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German conglomerate Bayer AG said it has made an all-cash offer to acquire U.S. competitor Monsanto for $122 per share or an aggregate value of $62 billion. Bayer expects the deal to reinforce it as a Life Science company with a deepened position. Responding to recent media reports, agricultural products giant Monsanto recently had disclosed that it had received an unsolicited proposal from Bayer. Agricultural machinery maker Deere & Co. reported Friday lower profit in its second quarter, reflecting weak equipment sales. Profit and net sales, however, topped analysts' estimates. Further, the company cut its forecast for fiscal 2016 profit, while updated sales view. Failing to find a buyer, the bankrupt retailer Sports Authority decided to close its remaining stores, and the brand will cease to exist. Sports Authority, once the nation's largest sporting goods retailer, said it plans to conduct going-out-of-business sales at all of its locations that weren't already slated to close, according to a new bankruptcy court filing in Delaware.
comments powered by Disqus
Follow RTT