SNEWS received the following release on Friday:
Thane International Terminates Previously Announced Agreement
La Quinta, Calif., Nov. 22 -- Thane International Inc. (BULLETIN BOARD: THAN) announced today it has terminated its previously announced merger transaction with a privately held leading supplier of consumer products. On August 14, 2002, Thane announced it had entered into a definitive agreement to acquire this Company, whose identity was not disclosed. Since that time, a number of the conditions required to complete the transaction have not been met. As a result, the parties have decided, by mutual agreement, to terminate the definitive agreement.
SNEWS View: So let's see if we get this straight. Thane (marketer of the likes of the AB-DOer and the OrbiTrek) announced that it had entered a merger agreement with a company it did not disclose, meaning no one really cared then. So, to really amp up the excitement, Thane decided to send out another release to inform us that the agreement that never really happened with the undisclosed company no one could talk about was being terminated because it was not agreeable -- or something like that. Thane must not have anything else to write about, or has a PR machine that has stripped its gears from revving too hard.