Ducommun Rejects Unsolicited, Non-Binding Indication Of Interest From Albion River To Acquire All Outstanding Shares Of Company For $60/Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Ducommun has rejected an unsolicited, non-binding proposal from Albion River to acquire all outstanding shares of the company for $60/share in cash, stating the offer undervalues the company. Ducommun's Board and Management are committed to their Vision 2027 Strategy for long-term growth.
April 16, 2024 | 12:43 pm
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Ducommun rejected a buyout offer from Albion River at $60/share, considering it undervalues the company and remains focused on its Vision 2027 Strategy.
Rejecting the acquisition offer suggests Ducommun's management has confidence in the company's intrinsic value and future growth prospects, potentially leading to positive investor sentiment. This rejection, coupled with the emphasis on long-term growth strategies, may lead to a short-term positive impact on DCO's stock price as it signals to the market that the company sees itself as undervalued at the proposed acquisition price.
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