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S&T AG cancels Letter of Intent with Cloudeeva Inc.


Tuesday, 25 Feb 2014 01:15pm EST 

S&T AG:Says withdrawn from Letter of Intent concluded with Cloudeeva Inc.Objectives of the Letter of Intent included issuance of voluntary offer.It would have been made to shareholders of S&T AG.This would have been linked to provision of support to Cloudeeva Inc. by S&T AG.Letter of Intent foresaw Cloudeeva Inc.'s submission or publication by Feb. 20, of documents detailing how issuance of a voluntary takeover could proceed as planned - or how it could at all be made.Cloudeeva Inc.'s non-fulfillment up to Feb. 25 of this agreement caused S&T AG to cancel this Letter of Intent.Independent of this cancellation both parties stated they may proceed with further negotiations in the future. 

Company Quote

3.256
-0.042 -1.29%
22 Dec 2014