Canadian marketer and distributor of salty snacks Humpty Dumpty Snack Foods has rejected an unsolicited partial takeover bid by wholesale produce distributor Dominion Citrus.
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The board of Humpty Dumpty rejected the bid, which was valued at C$17m (US$10.9m), because they thought it undervalued the company’s “effective operating model, strong track record and future prospects.”
Dominion Citrus was looking to buy around 5.04 million of Humpty Dumpty’s 9.55 million outstanding shares .
