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HOME :: RESEARCH :: DEBT :: NEWS:: JUL 2008

Global BPO Services Corp. Provides Further Information on Planned Tender Offer


Global BPO Services Corp.  ("GBPO") today announced that it is providing clarifying information regarding its planned tender offer for up to 30 million shares of common stock. As previously announced, assuming stockholder approval of both the Stream merger and the approval of the issuance of the Convertible Preferred Stock to an affiliate of Ares Management LLC ("Ares"), Global BPO will begin the tender offer as soon as practicable and legally permissible after the closing of the Stream merger. Global BPO expects to commence the tender offer no more than one week after the closing of the Stream merger. The tender will be open for stockholders to tender their shares, if they so desire, for a period of 20 business days. Global BPO does not intend to extend the tender offer period beyond 20 business days. The Company will make payments at $8 per share for tendered shares immediately after the closing of the tender offer. Global BPO expects that the tender offer will close and cash payments of $8 per share will be made under the tender offer in early September 2008. Global BPO believes that the tender offer provides maximum flexibility for its stockholders to elect either to hold their shares following the close of the tender offer or participate in the tender offer and provides the most expeditious path to liquidity for those holders who desire to receive cash for their common stock.

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