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PeopleSupport gets an improved offer

January 12, 2008|From Bloomberg News

PeopleSupport Inc., a Los Angeles customer-service and bill-collection manager, said Friday that it received a sweetened buyout offer from IPVG Corp. and AO Capital Partners.

The prospective buyers raised their purchase offer to $17 a share, up from $15 proposed Nov. 30, according to a letter to PeopleSupport that IPVG, a Philippines-based software and Internet content producer, posted on its website Friday.

The all-cash offer values PeopleSupport at about $385.7 million.

PeopleSupport shares rose $1.34 to $14.76. The 10% rise was the most in more than a month. The stock has dropped 32% in the last year.

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