Donuts’ purchase of Rightside might be coming to a conclusion.
There has been a bit of activity regarding Donuts acquisition of Rightside (NASDAQ:NAME).
Offer issued: The tender offer was issued on June 27 and is valid until July 26, 2017 at midnight, which means the deal could close shortly after that. Rightside just needs a majority of shares to be tendered in order for the deal to go through. Otherwise, the tender deadline can be extended.
Practically speaking, small shareholders don’t need to do anything. You’ll still get paid $10.60 for your shares even if you don’t tender, but the money will come a bit later. If you don’t tender you also keep appraisal rights.
Lawsuit settled: Rightside and the other parties have entered into a settlement deal over the lawsuit a shareholder brought over the acquisition. These lawsuits are part of doing deals, and the real winner is the law firm that might get a mootness fee. Rightside made this additional disclosure as part of the deal.
ICANN approves: Because of the new top level domain contracts Rightside holds, it needed ICANN to approve (or not oppose) the deal. ICANN granted its approval on July 15.