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Arbinet Explores Possible Sale or Merger

New Brunswick-based Arbinet (NASDAQ:ARBX) is looking at a number of options to increase its value to its shareholders. These include revising its business plan and selling or merging the company. Shares of Arbinet were up $0.11 to $5.26 in early afternoon trading.New Brunswick-based Arbinet (NASDAQ:ARBX) is looking at a number of options to increase its value to its shareholders. These include revising its business plan and selling or merging the company. Shares of Arbinet were up $0.11 to $5.26 in early afternoon trading.

Arbinet’s board of directors has formed a committee of independent directors to explore how best to achieve the new goal. The four-man committee, which has retained Jefferies & Co. as its financial advisors and Goodwin Procter as its legal counsel, will make recommendations to Arbinet’s board of directors.

The company sells access to its Internet-based trading platforms that lets customers such as Voice-over-Internet-Protocol carriers and Internet service providers buy, sell and deliver digital goods.

Curt Hockemeier, CEO of Arbinet, said, “Over the last five years, we have established a solid operating and financial foundation, which includes Arbinet”s powerful, low-cost transaction management platform, 33 patents, a global exchange footprint, and a strong balance sheet. These differentiators have enabled us to stabilize Arbinet”s traditional business. However, the markets in which we operate continue to be volatile.”

There is no guarantee that the exercise will result in any changes, according to Arbinet.