|RE:UNTD The offer was rejected as I expected. |
United Online considering a sale of the company after rejecting B. Riley offer. United Online an online provider of consumer products and services, said it is reviewing alternatives, including a sale of the company or its assets, against the progress of its business plan as a standalone business. The company has retained JMP Securities as a finanical advisor during the review process. United Online unanimously rejected an unsolicited bid from B. Riley Capital Management of $12.50 per share for all of the stock it doesn't already own, believing that the offer undervalues the company. United Online said, as of Sept. 30, it had about $180 million in capital losses and $87 million in federal net operating loss carryforwards. One alternative would be using that to offset taxes. United Online shares are down 24.3% for the year so far. The S&P is down 1.5% for the same period.