Group Withdraws Offer to Buy Zones

The investor group that wished to take publicly traded computer reseller Zones private has withdrawn its offer. The group, led by the Zones chairman/CEO Firoz Lalji, had announced on May 20 that it wanted to acquire all shares of common stock that it didn’t already own for $1.00 per share in cash. According to a company release, "discussions between the investor group and the special committee of independent directors appointed to review the offer will terminate with the withdrawal of this offer.