Aerospace and defense company Ducommun Inc. in Costa Mesa said today it had rejected private investment firm Albion River’s revised buyout offer of $65 per share.
Ducommun (NYSE: DCO) said in a statement the offer, raised from $60 per share, “undervalues Ducommun’s mid- and long-term growth initiatives and does not fully reflect the company’s strong record of performance.”
Shares in Ducommun closed up 1.5% at $62.87 apiece and were little changed in after-hours trading.
For further details, see the July 29 edition of the Business Journal.
