Unicom Systems Inc.’s acquisition of GTSI Corp. appears set to go forward after the company did not accept any alternative offers over the last month, GTSI announced Monday.
The firms agreed to a 30-day go-shop period, allowing GTSI to seek other proposals for 30 calendar days and continue negotiations with other bidders.
GTSI said it received one offer letter but did not accept the offer, adding that the go-shop period expired at 11:59 p.m. Eastern time on June 6.
Unicom agreed to acquire GTSI in May for approximately $76.67 million cash, or $7.75 per share.
GTSI expects the tender offer to close in either the second or the early part of the third quarter of its 2012 fiscal year.