AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Create a link to this page

Copy and paste this link tag into your Web page or blog:

<a href="http://www.accessmylibrary.com/coms2/summary_0286-19482183_ITM" title="Facts and information about Fotoball USA Announces Sale of Company to K2 Inc.; Fotoball to Become the Licensing and Promotional Arm of K2.">Fotoball USA Announces Sale of Company to K2 Inc.; Fotoball to Become the Licensing and Promotional Arm of K2.</a>

Close Set up an RSS feed that alerts you when new articles from Business Wire are available.

Frequently asked questions about RSS feeds

Fotoball USA Announces Sale of Company to K2 Inc.; Fotoball to Become the Licensing and Promotional Arm of K2.

Business Wire

| November 26, 2003 | COPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Nov. 26, 2003

Fotoball USA Inc. (Nasdaq: FUSA) today announced that it has entered into an agreement to sell the company to K2 Inc. (NYSE:KTO) in an all stock transaction. The agreement provides for an exchange offer of K2 common shares for Fotoball USA common shares followed by a merger in which Fotoball USA would become a wholly-owned subsidiary of K2 Inc. In the transaction, each outstanding share of Fotoball USA will be exchanged for 0.2757 shares of K2 common stock. Based on the average closing price of K2 shares of $15.85 for the 20 trading days ending Nov. 25, 2003, the value of the transaction is $17.2 million, or $4.37 per share for Fotoball USA shareholders, plus assumed liabilities. Based upon K2's closing price today, the implied value per Fotoball USA share is $4.33. In connection with the execution of the agreement, Michael Favish, Fotoball USA chairman and CEO, has agreed to exchange his shares for K2 common stock. Fotoball USA expects net sales of $31.0 million for the year ended Dec. 31, 2003. The transaction, which is subject to regulatory review and other …

View articles courtesy of your local library

Related articles from newspapers, magazines, journals, and more


K2 Announces Results of Its Exchange Offer for Shares of Fotoball USA and...: Press release article from: Business Wire January 12, 2004 700+ words
...exchange all shares of Fotoball USA common stock tendered and not withdrawn...093,486 shares of Fotoball USA common stock had been tendered, which...outstanding shares of ...


K2 Commences Exchange Offer for Shares of Fotoball USA; Fotoball USA Board Has...: Press release article from: Business Wire December 10, 2003 700+ words
...outstanding shares of Fotoball USA common stock. Subject to the terms...for each share of Fotoball USA common stock (including the associated...majority of the shares of ...


K2 Announces Results Of Its Exchange Offer For Shares Of Fotoball USA And The...: Press release article from: Business Wire January 20, 2004 700+ words
...exchange all shares of Fotoball USA common stock tendered as of the expiration...206,785 shares of Fotoball USA common stock had been accepted for...outstanding shares of ...


K2 Inc. Announces Agreement to Acquire Fotoball USA.: Press release article from: Business Wire November 26, 2003 700+ words
...receive 0.2757 of a share of K2 common stock for each share of Fotoball USA common stock tendered in the offer. The exchange...least a majority of the shares of Fotoball USA's outstanding ...


K2 Announces Completion of Its Merger with and Changing the Name of Fotoball...: Press release article from: Business Wire January 23, 2004 700+ words
...each outstanding share of Fotoball USA common stock, other than shares owned...the remaining shares of Fotoball USA common stock that were not tendered...same as paid per share of ...


K2 Extends Exchange Offer for Shares of Fotoball USA Because of Federal Holiday.: Press release article from: Business Wire January 7, 2004 700+ words
...NYSE: KTO) and Fotoball USA, Inc. (NASDAQ...outstanding shares of Fotoball USA common stock. As a result of...hereof and K2 and Fotoball USA disclaim any intent...relating to the K2 ...


FOTOBALL USA POSTS RECORD SECOND QUARTER 1996 RESULTS: Press release article from: PR Newswire July 22, 1996 700+ words
...promotions," said Favish. Fotoball USA designs, develops...many NCAA colleges. Fotoball USA, Inc. Condensed Statements...Outstanding (including common stock equivalents): Primary...Financial Officer, both of ...


Fotoball USA Announces Shareholder Rights Plan: Press release article from: PR Newswire August 13, 1996 700+ words
...Directors of Fotoball USA, Inc. (Nasdaq...more of Fotoball common stock (except in transactions...acquiring company's common stock with a market...more of Fotoball common stock on the date ...


Fotoball USA Posts Second Quarter 1997 Results: Press release article from: PR Newswire July 22, 1997 700+ words
...needs through 1997. Fotoball USA designs, develops...Exchange Commission. Fotoball USA, Inc. Condensed Statements...Outstanding (including common stock equivalents): Primary...the period. SOURCE Fotoball ...


Fotoball USA, Inc.(financial performance)(Brief Article): Magazine article from: San Diego Business Journal July 30, 2001 700+ words
NYSE-FUSA Fotoball USA, Inc. designs, develops, manafactures...580,000 Price of each share of common stock on July 26, 2001: $1.80 Aggregate...group (11 persons) 787,645 22.0 Fotoball USA Inc. Close Price (7/25/01...

For more facts and information, see all results

Source: HighBeam Research, Fotoball USA Announces Sale of Company to K2 Inc.; Fotoball to Become...

The AccessMyLibrary advertising network includes: