Wednesday, April 7, 2010

Spark Networks Rejects Buyout Offer

Beverly Hills-based online dating operator Spark Networks said late Tuesday that it has rejected the bid from Great Hill Equity Partners, III, to purchase the firm. According to Spark, it will continue to consider "all other strategic alternatives" available to the company. Great Hill had made an unsolicited bid for Spark in early March, saying it would pay $3.10 per share for all of the shares of common stock not owned by Great Hill. The deal would have valued Spark at around $64M.

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