MedQuist receives unsolicited tender offer

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Speech recognition and medical transcription services company MedQuist reported that it has become aware of an unsolicited tender offer by Costa Brava Partnership that originated on August 7 this year. The offer, directed at MedQuist’s shareholders, is for the purchase of up to 1.39 million shares of its outstanding common stock, representing approximately 3.7 percent of its outstanding shares of common stock, at $12.25 per share.

The Mt. Laurel, N.J-based MedQuist stated it is not associated with Costa Brava Partnership, the offer, or any of the offer documentation. MedQuist said it is remaining neutral and expresses no opinion with respect to the offer due to the lack of currently available public information.