Reuters: Mergers News: UPDATE 1-Peer 1 Hosting to buy NetBenefit for $38.5 mln

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Peer 1 Hosting to buy NetBenefit for $38.5 mln Jun 6th 2012, 11:35 June 6 | Wed Jun 6, 2012 7:35am EDT June 6 (Reuters) - Peer 1 Hosting said it will buy NetBenefit Ltd, a unit of NBT Ltd for $38.5 million in cash as the IT hosting provider consolidates its position in the United Kingdom. The company said the deal is expected to add to its earnings per share immediately. Peer 1 said it will fund the acquisition with cash on hand and its existing credit facilities. Shares of Peer 1 closed at C$2.22 on Tuesday on the Toronto Stock Exchange.

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