Russ Berrie Rejects Buyout Bid ; but Adviser Will Explore Sale of Company
The Record, Bergen County, NJ › June 07, 2007
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Summary
Russ Berrie and Co., maker of gifts and juvenile products, said Wednesday that it rejected an unsolicited offer to be acquired, but has hired an adviser to explore the possible sale of the company.
The Oakland-based company said in a statement on PR Newswire that it rejected the $18-a-share offer from an unidentified suitor after determining that the bid "undervalues the company and does not provide a sufficient basis for further consideration."See the full content of this document
Extract
Russ Berrie Rejects Buyout Bid ; but Adviser Will Explore Sale of Company
The offer was 1.6 percent over Tuesday's closing price of $17.71, bringing the total value of the bid to $380.6 million, based ...
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