Telmar Rejects Acquisition Bid

Telecommunications equipment reseller Telmar Corp. has rejected a $15.5-million buyout bid from Staruni Corp., describing the offer as “inadequate.” The rejection was disclosed Tuesday by PerfectData Corp. A PerfectData subsidiary is scheduled to merge with Staruni.

PerfectData said Staruni, which offered to buy Telmar for $6 million in cash and $9.5 million in stock, will continue to negotiate with Telmar and “consider a number of options.” PerfectData said it is also investigating several other potential acquisitions.