Cooke's offer “does not adequately reflect the value of the Fund and its future prospects,” stated Clearwater. Clearwater trustees made the determination based upon advice from financial and legal advisors.
The bid would value the company at $98 million, according to Proactiveinvestors.com. Clearwater is in the process of preparing to become a publicly traded company by the end of the year, a plan they announced July 22.
“The Trustees have assumed that business and economic conditions affecting the Fund will continue substantially in the ordinary course,” stated Clearwater, “including, without limitation, with respect to industry conditions, general levels of economic activity, regulation, taxes, foreign exchange rates and interest rates, that there will be no unexpected material changes in its facilities, customer and employee relations, credit arrangements or credit and collections experience.”
Cooke
