latest news releases from the newsroom
Optium to Present At The Ninth Annual Needham and Company Growth Conference
CHALFONT, Pa., Dec. 29, 2006 (PRIME NEWSWIRE) -- Optium Corporation (Nasdaq:OPTM), a supplier of high-performance optical subsystems, today announced that Eitan Gertel, President and Chief Executive Officer, will speak at The Ninth Annual Needham and Company Growth Conference on January 12, 2007, at the New York Palace Hotel in New York City. The presentation is scheduled to begin at 11:30 a.m. Eastern Time.
Stone Arcade Acquisition Corporation
Stone Arcade Stockholders Approve Acquisition of the Kraft Papers Business, a Division of International Paper Company
NORTHFIELD, Ill., Dec. 29, 2006 (PRIME NEWSWIRE) -- Stone Arcade Acquisition Corporation (OTCBB:SCDE) announced today that at a special meeting held today its stockholders approved the Company's previously-announced proposed acquisition of the Kraft Papers Business ("KPB"), a division of International Paper Company. Of the 23,661,853 votes cast at the meeting (representing 94.6% of the Company's total outstanding shares), 99.8% voted in favor of the acquisition of KPB. Holders of 40,000 shares issued in the Company's initial public offering voted against the acquisition and elected to have such shares redeemed into a pro rata portion of the IPO trust account. As previously announced, Stone and International Paper Company extended the termination date of the acquisition until January 5, 2007. Accordingly, it is expected that the Company will close on the acquisition of KPB in the next several days.
Collins Group LLC
Collins Group Expands Alabama Portfolio With $155M Colonial Properties Buy
BROOKLYN, New York, Dec. 29, 2006 (PRIME NEWSWIRE) -- Ari Parnes, Managing Director of Collins Group LLC, announced this week the Group's acquisition of three Alabama communities from Colonial Properties Trust (NYSE:CLP). The 2,284-unit Colonial Properties Portfolio in Birmingham and Huntsville was a boon of some $155 million. GE Capital (NYSE:GE) provided financing. New Jersey-based Lightstone Group participated as a joint venture investor.