EDMONTON, Alta. — A better deal has come along for Raydan Manufacturing, which was set to sell its suspension business to Link.
A numbered Alberta company, owned by businessman and current Raydan shareholder Bill Kocken, has offered about $1.96 million for the company. Raydan’s board of directors agreed it was a “superior” proposal to the one offered by Link.
“After carefully weighing the alternatives, in consultation with our legal and financial advisors, the board of directors has concluded that the (new) offer provides greater shareholder value than Link’s existing offer,” said Ray English, president and CEO of Raydan.
Link has five business days from Jan. 9 to decide whether or not to submit a matching proposal or to accept a termination fee.
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