Justin Christian, CEO of BCforward, and Vienna Parent Corporation Complete Tender Offer for Outstanding Shares of TSR, Inc.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 28 2024
0mins
Source: Newsfilter
- Vienna Parent Corporation Acquisition: Vienna Parent Corporation, formed by Justin Christian, completed the acquisition of TSR, Inc. through a cash tender offer.
- Tender Offer Details: The offer to purchase all outstanding shares of TSR at $13.40 per share was successful, with 89.7% of shares tendered and accepted for payment.
- Merger Completion: Vienna Parent's subsidiary acquired enough shares to proceed with a merger where remaining shares will be converted to receive $13.40 per share in cash.
- Companies Involved: Legal counsel Ice Miller LLP represented Vienna Parent, while Focus Investment Banking and Shulman Rogers advised TSR in the transaction.
- Background Information: TSR, Inc. is a staffing company founded in 1969, focusing on IT professionals, while Vienna Parent Corporation was created by Justin Christian for acquiring TSR.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
