The Amicas board of directors announced Monday that an updated proposal from Merge Healthcare to purchase Amicas for $6.05 per share is superior to the agreement it entered into with Thoma Bravo back in December.
The board said that Thoma Bravo now has until March 8 to make adjustments to the terms and conditions of the original agreement.
In statements last week, Amicas had expressed doubts about Merge’s ability to close on the acquisition. Now, the board says it has been satisfied that the offer is better than Thoma Bravo’s and has authorized Amicas to terminate the Thoma Bravo merger agreement unless Thoma Bravo can improve its offer before March 8.
“There can be no assurance that a transaction with Merge will result,” the board of directors stated in a press release, “and the Amicas Board is not withholding, withdrawing, amending, qualifying or modifying its recommendation with respect to the Thoma Bravo Merger, and is not making any recommendation at this time with respect to the Merge Proposal. The Amicas Board is not adopting, approving or recommending the Merge Proposal, or proposing that the Merge Proposal be adopted, approved or recommended. “
The board did say that it had postponed a special meeting of Amicas stockholders from March 4 until March 16.