Sacramento, California-based gran’daddy of the computerised newspaper typesetting business System Integrators Inc is going in a management buyout, but founder and chairman James Lenane, who holds 5.1m of the 12m shares outstanding, has lost out in his bid to buy the rest to a rival group led by president Alden Edwards, which will pay outside […]
Sacramento, California-based gran’daddy of the computerised newspaper typesetting business System Integrators Inc is going in a management buyout, but founder and chairman James Lenane, who holds 5.1m of the 12m shares outstanding, has lost out in his bid to buy the rest to a rival group led by president Alden Edwards, which will pay outside shareholders $10 a share, while Lenane gets $9 a share, valuing the company at about $115.2m.
