XYZ: A $200 million dollar offer by Daniel Negari has been declined

Daniel Negari

You might have first world problems if you’re eager to spend $200 million dollars but you can’t.

That’s the apparent sentiment of XYZ founder, Daniel Negari, after his two hundred million dollar investment offer was declined.

The domain entrepreneur with ties in the real estate industry made an offer to the publicly traded Creative Media & Community Trust, a subsidiary of the CIM Group. The offer involved 22.75 million outstanding shares at $8.88 dollar per share, for a grand total of $201 million dollars.

The offer was made last month. Days later, the CMCT board rejected the offer citing an undervaluation of its worthiness. The board also noted the offer’s lack of credibility due to Negari not “scoring” financing for the deal.

Full article at The Real Deal, with thanks to Dommunity for the link.

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