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Blog Coverage: TSR Receives Takeover Proposal from Zeff Capital
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[{"type":"text","content":"Blog Coverage: TSR Receives Takeover Proposal from Zeff CapitalUpcoming AWS Coverage on Automatic Data Processing Post-Earnings Results \nLONDON, UK / ACCESSWIRE / May 23, 2017 / Active Wall St. blog coverage looks at the headline from Hauppauge, New York based TSR, Inc. (NASDAQ: TSRI) as the contract computer programming services Company announced on May 19, 2017 that it had received a takeover proposal from New York based investment firm and a Delaware limited partnership, Zeff Capital L.P. Zeff Capital is an existing investor and owns approximately 7.2% stake in the Company. Register with us now for your free membership and blog access at:\nhttp://www.activewallst.com/register/ \nOne of TSR's competitors within the Business Software & Services space, Automatic Data Processing, Inc. (NASDAQ: ADP), announced on May 03, 2017, its financial results for Q3 FY17 and provided an update to its FY17 outlook. AWS will be initiating a research report on Automatic Data Processing in the coming days. \nToday, AWS is promoting its blog coverage on TSRI; touching on ADP. Get all of our free blog coverage and more by clicking on the link below:\nhttp://www.activewallst.com/register/ \nThe takeover offer \nOn May 18, 2017, Zeff Capital had filed an amended Schedule 13D with the Securities and Exchange Commission (SEC) which revealed that the investment firm had sent a letter of interest to TSR on May 17, 2017, indicating its interest to acquire all the outstanding shares of common stock not already owned by it. The offer was made on behalf of Zeff Capital's affiliated investment funds. The investment firm offered to pay for $6.15 per share in cash for each TSR's share. The offer price represents a premium of approximately 27% of TSR's closing stock price on May 17, 2017, the day Zeff Capital shared its intent. \nThe letter only indicates the intent of Zeff Capital to engage in the discussions for takeover and is not the final proposal. The offer is subject to the completion of due diligence, completion of a financing plan, negotiation of mutually acceptable definitive agreements and the satisfaction (or waiver) of the conditions put forth at the time of signing the agreement. TSR has shared Zeff Capital's letter with its Board of Directors for discussion and review. \nIn the event that TSR does not accept Zeff Capital's offer, the investm...