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News Breaks | | | | March 4, 2013 | | 10:55 EDT |  | OUTD | InterMedia Outdoor Holdings sends letter to board of Outdoor Channel
"We are aware of your determination to engage in discussions with Kroenke Sports & Entertainment regarding their conditional proposal to acquire all of the outstanding common stock of Outdoor Channel Holdings in an all-cash transaction at a price of $8.75 per share. Despite the Board's determination that the KSE Proposal "would reasonably be expected to result in a Superior Proposal", we are writing today to make unequivocally clear our position that the KSE Proposal cannot constitute a Superior Proposal relative to the IMOH cash and stock transaction. Our transaction, which can be consummated in less than two weeks, provides OUTD stockholders with a more attractive and valuable combination of cash today and stock in a much larger and more valuable enterprise." | |
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