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.
"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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