WESTBOROUGH, Mass.-Arch Communications Group Inc. completed its tender offer for up to 5.06 million common shares of USA Mobile Communications Holdings Inc. at $15.40 per share in cash.
Arch and USA Mobile announced plans last month to merge in a two-step transaction valued at more than $450 million, creating the nation’s second largest publicly trading paging company. The merger is expected to be completed in this year’s third quarter.
Arch also intends to purchase 390,000 USA Mobile shares from Nomura Securities International Inc. at $15.40 per share. Completing these two first-step transactions will give Arch 5.45 million USA Mobile shares, or 37 percent of USA Mobile’s outstanding shares.
The merger must be approved by Arch and USA Mobile stockholders, as well as meet regulatory approvals and other conditions.
