Metlifecare says indicative bid too low

Thu, 19 Dec 2019

Metlifecare has rejected an indicative takeover offer of $6.50 a share as being too low after sounding out some of its major shareholders.The board said its internal valuation could be in excess of $8 a share, depending on the assumptions used.The indicative offer from an unnamed suitor came out of the woodwork last month and, while it would’ve been a premium to the $5.18 price the shares were trading at, it’s still below Metlifecare’s net tangible asset value of $6.96 per share.“Following confidential institutional soundings, a binding offer a...

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