Jorge Reyes, director of corp communications: “The $40m offer from Mackay Holdings was a fair offer based on historical performance but fell short of what we felt the actual market value of VuQo is, based on emerging activity within VuQo.”
Founder James Mackay, of Mackay Holdings, is a club and bar owner in London and England and designed and established venues such as Voodoo Lounge, The Edge, Fabric, and Matrix. He owned a total of 17 nightclubs and bars partnering with high profile entertainment personalities such as The Rolling Stones.
Based upon current projections, VuQo Holdings Corp is forecasting huge growth in the international markets and additional gains in the US markets.
Reyes said: “We’re looking forward to future activities as we have already marked ourselves in various successful events such as The Emmys, The Playboy Mansion and recently The Oscars.”
Additionally, VuQo Holdings Corp is coming up with a new product line that our initial research indicates will provide substantial market expansion for the company.
Reyes added: “VuQo Holdings Corp believes that the suspension of the offer is in the best interest of shareholders based on what’s currently happening. We’re so excited with the initial feedback of our market research on our new product line and on the initial progress we’re making in the emerging markets.
“We are encouraged that these current activities will substantially improve VuQo’s presence in the marketplace and strongly believe these developments will greatly improve VuQo’s Market value over the next few months. We look forward to watching these trends manifest great results in the near future as our efforts unfold.”
Source: VuQo Holdings Corp
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