A group of investors in computer reseller Zones (NasdaqNM: ZONS) has offered $1.00 a share for the common shares it does not already own. The group, led by Zones president/CEO Firoz Lalij, controls the majority of the company’s outstanding common stock.
On May 20, the day that the proposal was announced, the stock opened at $0.85 a share and closed at $1.00 a share. The board of Renton, WA-based Zones will appoint a committee to review the proposal.