Stanadyne Inc. said its board has unanimously...

Stanadyne Inc. said its board has unanimously recommended that holders reject Emhart Corp.'s $580-million tender offer for the manufacturing firm. The company said the board determined that the $40-per-share offer by the industrial products maker was inadequate and not in the best interests of shareholders. The Windsor, Conn., firm also said it will explore alternatives for boosting the company's stock price, including an acquisition by a third party or a leveraged buyout. Stanadyne stock jumped $4.625 a share to $44.375, indicating that speculators expect a higher offer to emerge.

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