Seer’s directors unanimously spurned a revised all-cash offer valuing the company at $2.40 per share plus a contingent value right.
Seer’s board rejected Radoff-JEC Group’s revised proposal to buy all outstanding Class A shares for $2.40 per share in cash, plus a contingent value right. The decision was unanimous, the company said on Thursday.
The offer follows an unsolicited bid from Radoff-JEC, which had not previously disclosed terms. No prior public valuation or competing bids were reported for Seer, listed on NASDAQ under the ticker SEER.
Seer did not disclose any immediate market reaction or next steps from Radoff-JEC.