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Net2Phone committee to review IDT's revised offer

Thu, 12/15/2005 - 5:02am

Copyright 2005 M2 Communications Ltd.
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Net2Phone Inc. (NASDAQ: NTOP), a provider of VoIP PacketCable, SIP and wireless solutions, announced on Tuesday (13 December) that in response to the amendment to IDT Corporation's (NYSE: IDT, IDTC) tender offer for all of its outstanding shares, the independent committee of its board of directors will consider the revised offer.

IDT Corporation and its affiliates do not currently own any of Net2Phone Inc.'s shares.

The revised offer is for USD2.05 per share in cash, net to the seller, without interest. According to Net2Phone, on or before 19 December 2005 the independent committee of its board of directors will advise holders of its common stock on its recommendation with respect to the revised tender offer.

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