San Francisco’s Critical Path Inc. is weighing a purchase offer from a group of private equity firms, according to a company statement issued Wednesday.
The nonbinding preliminary proposal from General Atlantic LLC, Cheung Kong Limited and affiliates would acquire all the commonly held stock of the messaging software firm at $0.102 per share and convert other stock and promissory notes at the same price on an as-converted basis.
Critical Path’s board of directors has formed a special committee of independent directors to evaluatethe proposal and hired Gibson Dunn & Crutcher LLP as legal counsel and Oppenheimer & Co. Inc as its financial advisor.
