Meade Instruments's Board of Directors Recommends Stockholders Reject the Unsolicited Tender Offer of MIT Capital Inc.
7/8/2013 9:49:04 AM
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IRVINE, Calif., July 5, 2013 (GLOBE NEWSWIRE) -- Meade Instruments Corp. ("Meade") (Nasdaq:MEAD) today announced that its Board of Directors, after careful consideration with its outside legal counsel, recommends that Meade's stockholders reject the offer (the "MITC Offer") of VictoryOne Inc. ("Purchaser"), a wholly-owned subsidiary of MIT Capital Inc. ("MITC"), to acquire all of the outstanding shares of Meade's common stock for $3.65 per share in cash and not tender their shares of common stock to Purchaser pursuant to the MITC Offer. The basis for the Board's recommendation is set forth in Meade's Schedule 14D-9 filed today with the Securities and Exchange Commission.\
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