A group of Merisel shareholders have rejected the company?s proposal to restructure its debt, forcing the company to postpone a special shareholder meeting from 29 August to 18 September.
The investors preferred an earlier proposal (see earlier stories) and have not been able to agree terms with the distributor that would allow it to follow its preferred plan.
Dwight Steffensen, Merisel chairman and chief executive officer, said: ?It is unfortunate we have not yet been able to successfully negotiate an improvement of the financial restructuring with the noteholders.? He said the company will send shareholders information and give them more time.
Merisel hopes its tough line will persuade them to change their minds and sources suggested Merisel will pay off the group to force through its plan.
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