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Ducommun's Board Rejects Albion River's Revised $65 per Share Takeover Offer
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Ducommun's Board Rejects Albion River's Revised $65 per Share Takeover Offer
Jul 25, 2024 8:48 AM

11:16 AM EDT, 07/25/2024 (MT Newswires) -- Ducommun ( DCO ) said Thursday its board has rejected an unsolicited revised non-binding indication of interest from Albion River to buy all outstanding shares of Ducommun ( DCO ) for $65 per share in cash.

The board concluded that Albion's offer "is not in the best interests" of the firm to continue further negotiations regarding the proposal, the company added.

Ducommun ( DCO ) said its board believes that Albion's revised proposal "significantly undervalues" the company's long-term value for stockholders.

The latest revised offer was made by Albion on July 15.

Albion River did not immediately respond to MT Newswires' request for comment.

Ducommun's ( DCO ) stock was 1.6% higher in recent Thursday trading.

Price: 62.91, Change: +0.97, Percent Change: +1.57

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