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CDI Corp. (CDI) said late Thursday it offered to purchase tech consultant RCM Technologies Inc. (RCMT) for $5.20 a share late last month. The all-cash offer, valued roughly at $68 million, was proposed to RCM's board in a letter on May 21, but RCM's board hasn't responded, according to CDI. The offer represented a 37% premium to RCM's closing price of $3.79 on May 21. CDI's Chief Executive Roger Ballou said in a statement that while CDI prefers to reach an agreement with RCM and its board, "we feel the significance of this proposal requires us to take our proposal directly to RCM's shareholders." Shares of RCM Technologies are up over 40 percent in early trading on well above the average trading volume.
OMNI Energy Services Corp (OMNI), an environmental services provider to the oil and gas industry, agreed to be sold for about $66.3 million to an affiliate of Wellspring Capital Management LLC. The offer price of $2.75 is at a 29.7 percent premium to OMNI's Thursday closing price of $2.12 on Nasdaq. The stock was up 22 percent before the bell on Friday. Wellspring would pay OMNI shareholders $122 million in cash, including debt, OMNI said in a statement. The stock traded above $2.70 on three times the average trading volume.
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