Fairmount Heavy Transport Approached by Unsolicited Third Party
The Board of Directors of FHT has been approached by a third party who has informed the Board it is planning to acquire control of FHT.
The third party did not provide any proof of financial backing to support their approach to the company. At this time, management is skeptical that this third party can be taken seriously as a potential bidder for the company. Furthermore, management would suggest to shareholders that the current level of the company's share price does not reflect the full and fair value of the company's business.
Philip Adkins, CEO, stated "If someone wants to buy FHT, we will of course evaluate any proposals properly and seek to achieve the best possible result for our shareholders. However, we will also maintain a close watch on any attempt to acquire control of the company by any means that does not provide all of our shareholders with the opportunity to receive the highest possible price for their shares."
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