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Qualstar's Board of Directors to Review Unsolicited Tender Offer From BKF
Shareholders Advised to Not Take Action Pending Review
By: Marketwired .
Jan. 31, 2013 04:42 PM
SIMI VALLEY, CA -- (Marketwire) -- 01/31/13 -- Qualstar® Corporation (NASDAQ: QBAK) today confirmed that Steven Bronson and BKF Capital Group have commenced an unsolicited tender offer to acquire 3 million shares of Qualstar Corporation at a price of $1.65 per share.
Qualstar's Board of Directors, in consultation with its financial and legal advisors, will carefully review and consider the unsolicited tender offer to determine the course of action that it believes is in the best interests of the Company and its shareholders. The Board intends to advise shareholders of its formal recommendation within ten business days by making available to shareholders and filing with the Securities and Exchange Commission a solicitation/recommendation statement on Schedule 14D-9. Qualstar's shareholders are advised to take no action at this time pending the review of the tender offer by the Company's Board.
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