November 5, 2010 (FinancialWire) Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Comforce Corp. (AMEX: CFS) said it has inked a definitive merger agreement with Abry Partners, LLC under which an affiliate of Abry Partners to acquire all of the outstanding shares of Comforce for $2.50 per share of common stock.

According to Comforce, the price represents a premium of around 77.4% over the firm’s 30day average closing stock price, and a premium of around 54.3% over the closing price of Comforce common stock on November 1, the last trading day prior to the deal’s announcement.

The aggregate purchase price for the equity of Comforce is around $84.8 million (which consists of around 33.9 million shares, inclusive of all shares of common stock outstanding and preferred shares convertible into common stock).

The Comforce board has approved the merger agreement with Abry Partners and resolved to recommend that Comforce’s stockholders vote to adopt the merger agreement.

The company said that certain of its directors, executive officers and stockholders beneficially owning around 31.0% of its common shares outstanding have entered into agreements to vote in favor of the merger agreement and otherwise to support the transaction.

New York-based Comforce is a provider of outsourced staffing management services.

Massachusetts-based Abry Partners is a private investment firm focused solely on media, communications, business and information services investments.

=========

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [prfssnlsrvctsrc] [systmspprtrpys] [prtnrshpsphs] [mrgrsacqstns] [ftrdnwswnd]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.