Quote:
Originally posted by Jayson
No what this means is that when Intercept purchased Ibill, they placed $10.5 mil of the purchase price in Escrow to be sure that Ibill was going to perform as it said it would.
THe article says that the former owners are getting $2.5 mil and intercept are keeping the rest. This just means that obviously it isnt performing up to scratch and rather than wait till the end of the escrow period they have agreed to settle up now.
It doesnt affect ibills operations, as they have been run by intercept in since the purchase (infact intercept now have $8mil more than they did)
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It _might_ also mean there were some hidden issues in their balance sheet that the buyer couldn't disclose during the due dilligence process ...