Duke scoffs at Kathmandu projections after takeover offer rejected as too low

Thu, 06 Aug 2015

By Jonathan Underhill Aug. 6 (BusinessDesk) - Rod Duke says Kathmandu may struggle to achieve the rebound in earnings it has projected for 2016 as part of its argument for rejecting his takeover offer as too low. Kathmandu's independent assessment of the offer from Duke's Briscoe Group valued the shares in a range of $2.10 to $2.41, above the implied $1.80 a share offer. Kathmandu shares rose 2.3 percent to $1.75 after the company urged shareholders to reject Duke's "opportunistic" approach. The outdoor clothing and equipment chain to...

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