Duke says Kathmandu offer 'fully reflects' value of shares, target's forecasts 'highly optimistic'

Fri, 07 Aug 2015

By Jonathan Underhill Aug. 7 (BusinessDesk) - Briscoe Group managing director Rod Duke says after studying Kathmandu Holdings' response to his takeover offer he has concluded the price "fully reflects the value of Kathmandu shares". Kathmandu shares rose 1.1 percent to $1.77, below the $1.80 implied value of Duke's offer and lower than the $2.10 to $2.41 range given in the target company statement. The stock closed at $1.39 on the day before he emerged with 19.9 percent of the company. It had sunk as low as $1.25 from as high as $4.05 las...

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