BGS Systems Inc, Waltham, Massachusetts, doesn’t want to be acquired by Morino Associates Inc, and has rejected the Vienna, Virginia company’s proposal for a $9 a share cash takeover, $27m in all (CI No 866). We are disappointed that the BGS board did not appreciate the mutual benefits of our proposal, says Marion Morino. We continue to believe that the proposed combination of BGS and Morino would strengthen the company, benefit our clients, and would give BGS holders a substantial premium over the price of their stock prior to the announcement of our proposal.
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