Overhill Farms (OFI) Declines Proposal From Potential Acquirer
Overhill Farms (AMEX: OFI) announced that it has declined a proposal submitted jointly by GESD Capital Partners and Citicorp Venture Capital to acquire all of the Company's stock for $4.40 per share.
"Overhill Farm's Board has concluded that the most recent offer from GESD-CVC does not reflect the intrinsic value and long-term prospects of the Company," said James Rudis, Chairman and Chief Executive Officer of the custom manufacturer of frozen foods.
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