India, Aug. 14 -- Harte Hanks, Inc. (HHS), a marketing services company, and Star Equity Holdings, Inc. (STRR, STRRP) have announced that they have inked a merger deal under which Star Equity will acquire Harte Hanks for $5 per share, or $38.4 million. The transaction represents around 100% premium to Harte Hanks' unaffected share price.
David Fisher, President of Harte Hanks, said: "This transaction delivers a compelling premium and directly addresses the structural challenges Harte Hanks faces as a small standalone public company. It provides shareholders with immediate liquidity and continued economic participation."
The merger deal includes a 30-day go-shop period during which Harte Hanks may evaluate and negotiate alternative acquisi...