ScreenFX says it is to buy an unnamed business.
As they do not have any money and are desperately trying to dispose of their TrainFX network in next 2 months it is no surprise that the acquisition (should it ever happen) is to be “wholly funded by shares”
LONDON (Thomson Financial) – Digital advertising and communications specialist ScreenFX PLC said it has agreed to acquire a business operating in a related field, although the target was not named.
The acquisition, which will take several weeks to complete, will be wholly funded by shares in ScreenFX, the company added.
There are a number of people, including some ScreenFX shareholders who are looking at the business – buying it out, buying the remnants of it, should it go under etc. and I would not be surprised if this ‘deal’ may be part of that or a lead up to it.
How often, unfortunately, have we heard of companies going bankrupt then re-emerging as a new business entity elsewhere.