Innovative Solutions & Support Says Christopher Harborne's $7.25/Share Proposal Undervalues Company And Is Not In Best Interests Of Company, Stakeholders
Portfolio Pulse from Benzinga Newsdesk
Innovative Solutions & Support (ISSC) has rejected Christopher Harborne's proposal to acquire the company at $7.25 per share, stating that the offer undervalues the company and is not in the best interests of the company and its stakeholders.
June 13, 2024 | 9:51 pm
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Innovative Solutions & Support (ISSC) has rejected a $7.25 per share acquisition proposal from Christopher Harborne, citing that the offer undervalues the company and is not in the best interests of stakeholders.
The rejection of the acquisition proposal suggests that ISSC's management believes the company is worth more than the offered price, which could indicate confidence in the company's future prospects. This may positively impact investor sentiment and the stock price in the short term.
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