Monday, March 2, 2015

j2 Global Withdraws Carbonite Offer

Los Angeles-based j2 Global said early this morning that it has withdrawn its tender offer for Carbonite, after entering into a confidentiality agreement with the company. j2--which has been in the midst of a hostile takeover attempt of Carbonite since December--said that the agreement between the two companies includes a "standstill" provision which expires on June 30th, but that j2 will be nominating candidates for Carbonite's board.

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