RE: Clarify please?!
OMT ANNOUNCES STRATEGIC REVIEW
WINNIPEG, Feb. 3/CNW/ - OMT Inc. ("OMT") (TSX Venture: OMT) announces that it has undertaken a review of its strategic alternatives and is currently in discussions with an interested party regarding the potential acquisition of OMT Technologies, Inc., a wholly-owned subsidiary of OMT comprising substantially all of the assets of the company. At this time, there is no legal obligation on OMT or the interested party to complete a transaction. Any transaction will be subject to the parties entering into a definitive agreement and the satisfaction of a number of conditions, including due diligence and receipt of applicable approvals.
OMT has considered a number of strategic alternatives during its strategic review process and at this time has concluded that there is no strategic alternative currently available to it that would result in net proceeds in excess of its debt obligations.
It means they have a solid technology and there are interested parties out there for Take Over but Offer needs to be sweetened.