Watlington Waterworks declines unsolicited offer to buy business
Watlington Waterworks Ltd has turned down an offer to buy the business.
The company said it had received an unsolicited confidential expression of interest from Artemis Lane LP to purchase the business.
In a statement today, issued through the Bermuda Stock Exchange, the company said: “The board of Watlington Waterworks have, after serious consideration of the offer, decided the offer was not in the best long-term interests of its customers, shareholders and employees and have decided unanimously to decline the offer.
“The board resolved that it was in the best long-term interests of Bermuda, the company, and its customers to continue its well-established long-term infrastructure strengthening designed to improve quality and reliability of product and service.”
Trading in shares of Watlington Waterworks Ltd on the Bermuda Stock Exchange was suspended on Friday, pending an announcement from the company. Trading of the stock resumed today at 1pm.
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service