In a unanimous vote Intermix’s board of directors have decided to stick with Rupert Murdoch offer of $12 a share. It turns out that the $13.50 a share that Greenspan offered was for half the stock. Greenspan would have had to raise the rest of the $300 million and it looks like he didn’t have any credible sources to do so.
I guess Greenspan really did piss some people off over there. Who wouldn’t have been? When he was asked to leave Intermix its shares were trading at $2 and on the cusp of being investigated by the SEC.