180 Connect to consider $3-per-share offer from Creative Vistas

By Lisa Kerner

Charlotte, N.C., Feb. 20 - 180 Connect Inc.'s board of directors acknowledged receipt of Creative Vistas, Inc.'s unsolicited bid for the company.

On Feb. 19, Creative Vistas offered to acquire all of the of the outstanding capital stock of 180 Connect for $3 per share, payable half in cash and half in Creative Vistas common stock, a company news release stated.

180 Connect's board said it is evaluating the proposal but cautioned there can be no assurance that its evaluation will result in any transaction.

It was previously reported that the transaction would be subject to due diligence, negotiation and execution of a definitive agreement and approval from 180 Connect shareholders.

Creative Vistas beneficially owns 3,124,407 shares, or 13.6%, of the company's outstanding stock, according to a prior SEC filing.

180 Connect, located in Englewood, Colo., provides installation, integration and fulfillment services to the home entertainment, communications and home integration service industries.

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