Kathmandu Holdings Limited
(ASX:KMD) has once again called on its shareholders to reject a $318 million takeover bid by Kiwi retailer Briscoe Group.
Briscoe informed Kathmandu that it has no intention to increase its offer and saw the offer as “attractive”.
The board of Kathmandu says the cash and scrip offer was unsolicited and undervalues the company.
The closing date for the offer is the 17th of September.
Kathmandu made a loss of $1.72 million in the first half of 2015.
