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Cogent (COGT +1.4%) received a $1B+ (~$12/share) buyout bid from NEC, according to court papers,...
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Friday, October 1, 2010, 2:10 PM ETCogent (COGT +1.4%) received a $1B+ (~$12/share) buyout bid from NEC, according to court papers, yet still went ahead with 3M's (MMM +0.9%) $943M ($10.50/share) takeover offer. A lawsuit alleges that the company’s officials didn’t get enough for shareholders and unfairly structured the deal to deter other bidders.
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