Newsclip®: [Business] The Andersons receives $1 billion takeover offer - Toledo Blade

"A New York company that specializes in taking over firms has made an unsolicited $1 billion cash offer to acquire The Andersons Inc., a Maumee agribusiness which is well-known in the Toledo area. Former hedge fund manager Philip Falcone’s HC2 Holdings Inc. sent a letter today to Michael Anderson, chairman of The Andersons, to buy the company for $37 a share, or 42 percent higher than Tuesday’s closing price of $25.94 a share. In the letter, not released until after the stock exchanges closed on Tuesday, Mr. Falcone says his company “has repeatedly expressed interest to you and the board to enter into a negotiated transaction,” but none of the Andersons representatives “have substantially responded.” He even had an April 18 meeting with Andersons executives, according to the letter, when",

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