Scoop Buyout Collapses
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Scoop Inc. said Multimedia KID-Intelligence in Education Ltd. terminated its agreement to be acquired by Scoop because the Irvine company has been delisted from the Nasdaq SmallCap Market.
Scoop said the collapse of the deal puts its future “in substantial doubt.”
The Internet-based news service said its board is considering several alternative plans, but it is “highly unlikely” that it will be able to continue as a going concern if it doesn’t complete an alternative transaction soon.
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