Dine Brands Rejects Nonbinding $39-a-Share Proposal From Arkhouse, Cobblers Cove
Photo: TokenPost
Dine Brands rejected the nonbinding $39-a-share cash proposal by Arkhouse Management Co. LP and Cobblers Cove Capital LP to acquire all its outstanding common shares, saying the board found it inadequate and substantially undervaluing Dine. The board received the proposal Oct. 26 and rejected it Oct. 29 after reviewing it with outside advisers. Dine adopted a limited-duration stockholder rights agreement on Oct. 28. In its response, the board wrote that the proposed transaction “would not be in the best interests of the Company and its stockholders.” In a letter dated Nov.
Source: TokenPost
