Digital Angel rejects PositiveID’s inadequate unsolicited non-binding proposal for acquisition



Via News Release

Digital Angel Corporation, an advanced technology company in the field of animal identification and emergency identification solutions, announced today that its Board of Directors unanimously rejected PositiveID Corporation’s inadequate unsolicited non-binding proposal for acquisition.

PositiveID Corporation, formerly known as VeriChip Corporation, (NASDAQ: PSID) was previously a subsidiary of Digital Angel, which Digital Angel divested in 2008. Digital Angel’s Board of Directors found the proposed offer highly opportunistic and designed to take advantage of the low stock valuation arising from uncertainty surrounding its NASDAQ-listing.”

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