Rentech confirms $2.28-per-share offer from Sherwood Investment

By Lisa Kerner

Charlotte, N.C., Dec. 20 - Rentech, Inc.'s board of directors said it will consider the unsolicited offer from Sherwood Investment Overseas, Ltd. "in a manner consistent with its fiduciary duties to the shareholders and the corporation."

The board will respond at an appropriate time, a company news release stated.

On Dec. 18 Sherwood offered to acquire Rentech for $2.28 per share for all of the company's issued and outstanding common stock.

Sherwood had previously offered the company $2.70 per share.

The investor owns 5.292 million shares, or 3.24% of Rentech's outstanding shares, according to a prior news release.

Rentech, based in Los Angeles, develops gas-to-liquid and coal-to-liquid synthetic fuels.

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