Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Agree Realty Corp. > News item |
Agree Realty says 'no' to Compson Holding's $27.50-per-share offer
By Lisa Kerner
Charlotte, N.C., Oct. 21 - Agree Realty Corp. said its board of directors unanimously rejected an unsolicited acquisition proposal from Compson Holding Corp.
The board determined the offer was not in the best interests of its stockholders and would not be further pursued.
Instead, Agree Realty will continue to implement its long-term business plan to maximize shareholder value, a company news release said.
On Oct. 13, Compson Holding offered to buy Agree Realty, either directly or indirectly, for approximately $27.50 per share in an all-cash transaction valued at $328.67 million.
It was previously reported that Agree Realty turned down a $38.75-per-share offer from Compson two years ago.
Agree Realty is a real estate investment trust located in Farmington Hills, Mich.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.