TNS buyout offer on the table

TNS buyout offer on the table
Tags: Bank / Credit Union, Debit / Credit, EFT Networks, Public Companies, Transaction Processing
March 23, 2006

Washington Business Journal: Transaction processor Transaction Network Services Inc. received a buyout offer from senior management led by company chairman and chief executive John McDonnell Jr. McDonnell's group is offering $22 per share, which, based on shares outstanding, values the company at more than $500 million. TNS said a special committee set up by the board of directors will evaluate the buyout offer.