US energy efficient technology company Patriot Energy management recommends new offer to shareholders

18 May 2009

US energy efficient technology company Patriot Energy Corporation has announced that management is in favour of the new purchase offer and has urged shareholders to accept this new offer.

The all cash offer sets the purchase price at $0.57 per share. The offer comes from Dubai-based Marmara Motorlu, a subsidiary of Marmara Parts headquartered in Istanbul, Turkey.

The shareholders will vote on the purchase offer on 9 June 2009 further to the notice of a special meeting of shareholders.

Patriot Energy specialises in the development and marketing of energy efficient technologies with a focus on reducing America’s dependence on foreign oil.

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Tags: energy efficiency

This story was published on Monday, May 18th, 2009 at 12:54 pm and is filed under Middle East, North America, companies, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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