Overland Storage (OVRL) Affirms Merger Proposal from Tandberg Data

Overland Storage (Nasdaq: OVRL) confirmed it has received a proposal from Cyrus Capital Partners L.P., the owner of Tandberg Data (Holdings) Sarl, for a potential business combination between Overland and Tandberg. Consistent with its fiduciary and legal duties, Overland's Board of Directors will evaluate this proposal and other strategic alternatives carefully. Overland has retained Roth Capital Partners as its financial advisor to assist it with this process.

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