An offer to buy out Ada based Prepaid Legal Services, Inc. has been withdrawn, according to The Oklahoman.

Late last month the firm announced an estimated $600 million offer by an undisclosed private equity firm to acquire its outstanding shares of stock. Pre-Paid officials said at the time the private equity firm insisted on anonymity or the offer would be withdrawn.

It was anyway five days later.

Thomas W. Smith, of Prescott Investors, owner of approximately 25 percent of Pre-Paid Legal stock, is reported by The Oklahoman to have written in a letter to the Securities and Exchange Commission that a merger may still be in the offing.

“…although the offer has since been withdrawn, we understand that the private equity firm remains inter

Source: Ada Evening News

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