KPN, IBasis Settle Dispute Over Tender Offer

Law360, New York (November 23, 2009, 5:32 PM EST) -- The Dutch telecommunications provider Royal KPN and its affiliate iBasis Inc. have ended their legal battle over what iBasis called a “grossly inadequate” tender offer by KPN to buy out iBasis' outstanding shares, now that KPN has upped its offer to $3 cash per share for a rough total of $93 million.

The settlement agreement provides for the dismissal with prejudice of all claims in the litigation pending between iBasis and KPN in the Delaware Court of Chancery and the United States District Court for the...
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