Supplier News

MICHAEL ANTHONY REJECTS OROAMERICA’S OFFER Michael Anthony Jewelers Inc. has rejected an unsolicited offer from OroAmerica, a major competitor, to buy the Mount Vernon, N.Y., company. Michael Anthony’s board of directors met Feb. 16 to review the company’s long-term strategic plan and preliminary results for the fiscal year ended Jan. 31. Those results were expected to be “substantially better” than the previous year’s, according to the company. The board unanimously rejected OroAmerica’s offer as “inadequate” and “not in the best interest” of Michael Anthony and its stockholders. OroAmerica, headquartered in Burbank, Calif., had offered on Feb. 11 to pay $6 a share in an all-cash transaction for all of Michael Anthony’s common stock. That offer was 85% above Michael Anthony’s closing stock price of $3.25 on Feb. 10 and 41% above its highest closing price
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out