Abx Air Rejects $450m Buyout ; Wilmington-Based Cargo Airline Says $7.75 Per Share Offer From Astar Isn't a Good Deal for Shareholders.

Dayton Daily News › July 26, 2007

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Summary

The board of directors for ABX Air Inc. on Tuesday rejected as inadequate an offer by ASTAR Air Cargo Holdings LLC to buy the Wilmington-based cargo airline.

ASTAR had offered $7.75 per share for ABX, in a bid with a total value of more than $450 million. ABX's board said it had consulted with legal and financial advisers in reviewing ASTAR's offer, but rejected it as providing inadequate value to ABX shareholders.

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Extract

Abx Air Rejects $450m Buyout ; Wilmington-Based Cargo Airline Says $7.75 Per Share Offer From Astar Isn't a Good Deal for Shareholders.

ASTAR's offer does not merit further consideration, said James H. Carey, ch...

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