KPN extends $3-per-share tender offer for iBasis shares to Dec. 18

By Lisa Kerner

Charlotte, N.C., Dec. 9 - KPN BV extended its cash tender offer for iBasis, Inc. to midnight ET on Dec. 18.

As of midnight ET on Tuesday, the original deadline, approximately 23,112,954 iBasis shares were tendered in and not withdrawn from the tender offer, including 1,158,522 shares tendered under notice of guaranteed delivery, according to a KPN news release.

Including the tendered shares, KPN said it owns approximately 88.8% of iBasis' outstanding shares.

KPN said it extended its offer to allow all of iBasis' investors additional time to participate in the offer.

In November, KPN increased its offer for iBasis a final time to $3.00 per share.

KPN, an Amsterdam-based telecommunications company, began its original $2.25-per-share offer for iBasis in July.

iBasis is a voice carrier and wholesale provider of voice, mobile data and prepaid calling products and services. It is based in Burlington, Mass.

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