Outdoor Channel Holdings said it got an unsolicited bid from...
Outdoor Channel Holdings said it got an unsolicited bid from Kroenke Sports & Entertainment to buy all its outstanding shares for $8.75 a share. If an agreement were to be reached it would be considered a “superior proposal” to the…
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one the company already agreed to on Nov. 15 with InterMedia Outdoor Holdings, it said. “Accordingly, Outdoor Channel’s board has authorized discussions with Kroenke regarding the Alternative Proposal,” it said. Meanwhile, it advised shareholders to take no action. “The board is not withdrawing its recommendation with respect to the InterMedia transaction or proposing to do so, and is not making any recommendation with respect to the Kroenke proposal,” it said. The company’s board also reaffirmed its recommendation that shareholders vote to approve the InterMedia agreement, it said. Outdoor’s shares increased more than 14 percent Monday to $8.65.