MTRM Shares Still on the Rise after Acquisition News
Shares of Metromedia International Group Inc. (Pink Sheets: MTRM) jumped up today after news of its acquisition by Salford Georgia and Compound Capital came out yesterday afternoon. MTRM closed up 5 cents (3 percent) to $1.74 per share on volume of 2 million shares. MTRM entered into an agreement pursuant to which affiliates of Salford Georgia and Compound Capital Limited will make a tender offer, expected to commence before July 20, 2007, for all issued and outstanding shares of MTRM common stock at a purchase price of $1.80 per share in cash. The purchase price of $1.80 per share represents…