Buyout deal about value, says Tuckamore board
The board of directors of Tuckamore Capital Management has released a letter to shareholders concerning the proposed acquisition of Tuckamore by private equity firm Birch Hill Equity Partners in partnership with senior managers. The letter said the deal is intended to be a long-term solution that provides the capital resources needed to "de-risk the balance sheet and surface value for shareholders." The $0.75 per share offer gives shareholders "an opportunity to receive cash for their shares, while leaving the purchaser to assume approximately $280 million in debt and capital leases," it said. A number of investors have publicly opposed the deal.
7 July 2014•4 mins read
