Seer Rejects Revised Takeover Offer From Radoff, Torok
MT Newswires Live
Apr 27
Seer (SEER) said Monday that its board unanimously rejected the revised unsolicited, non-binding takeover proposal from Bradley L. Radoff and Michael Torok following a review.
The offer to acquire the company for $2.35 per share in cash plus a contingent value right "undervalues Seer in light of its compelling growth potential," said Nicolas Roelofs, a board member.
The company said that the revised offer implies an equity value for Seer that is "materially below the sum of Seer's current cash, cash equivalents and investments."
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