IASG goes to the bank
By SSN Staff
Updated Thu January 5, 2006
ALBANY, N.Y.--In late December, Integrated Alarm Services Group, a holding company for several businesses in the security industry, hired Allen & Company, a New York City investment bank, to assist the company's management and board of directors in scouting strategic options to increase shareholder value.
The move comes after Contrarian Capital Management, which owns 13 percent of IASG, addressed the company's falling stock price, which fell from $9.25 a share in July 2003, when the company went public, to $2 in November. Contrarian suggested that IASG appoint an investment bank to help examine the company's options, including sale of the company.
IASG saidAllen & Company may consider: acquisitions, strategic joint ventures, recapitalizations, mergers, divestitures and/or share repurchases.
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