P.M. BRIEFING : Dunkin’ Donuts Rejects Takeover
From Times Wire Services
RANDOLPH, Mass. —
Dunkin’ Donuts Inc. said today it rejected a $45-a-share takeover offer from DD Acquisition Corp. as inadequate and will explore other alternatives, including the acquisition of the doughnut chain by a third party.
The announcement sparked a sharp rise in Dunkin’ Donuts shares, which were up $4 to $45 a share in heavy afternoon trading on the over-the-counter market.
DD Acquisition is jointly owned by Kingsbridge Capital Corp., a subsidiary of Toronto-based Unicorp Canada, and Cara Operations Ltd.
