Moore McCormack Resources Inc. said its board...
- Share via
Moore McCormack Resources Inc. said its board rejected as inadequate a sweetened $450-million bid from Southdown Inc. and authorized the sale of a Moore McCormack subsidiary as a move to enhance shareholder value. Last week Southdown, a Houston-based cement and energy company, increased its tender offer for all of the Stamford, Conn.-based firm’s outstanding common stock to $35 per share from its previous offer of $31 per share. Moore McCormack’s board authorized the sale of Moore McCormack Energy Inc., the company’s oil and gas subsidiary.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
