A group led by Thaddeus Jaroszewicz offered to acquire
for $7 a share, according to an
The group already owns 6.6% of the document management company, and the new proposal offers $6 a share in cash and $1 a share in principal amount of a five-year, 12% subordinated note to acquire the rest.
Tab Products said Monday that it was continuing to review its strategic alternatives with the assistance of a financial advisor to "maximize shareholder value." The company indicated that it had received proposals for acquisition, but some "contain contingencies that raise uncertainty as to their completion."
Tab offered no assurances that any of these deals will be completed or to the price at which any transaction may be completed.
Shares of Tab were up as high as $5.53 in after hours trading Monday on the news after closing at $4.41 in regular trading.