According to a statement, a special committee of Patriot's Board of Directors analyzed the offer made by
The offer, disclosed on
The statement added, "The Special Committee continues to evaluate other more attractive offers and all opportunities for value creation." However, neither the committee nor the board of directors "has made a decision to enter into any transaction or other opportunity at this time."
In its statement on Tuesday, the company said it would "provide a more complete update on its strategic value creation initiatives" during its third-quarter earnings call on Monday.
Following the announcement,
(c)2016 the Sun Sentinel (Fort Lauderdale, Fla.)
Visit the Sun Sentinel (Fort Lauderdale, Fla.) at www.sun-sentinel.com
Distributed by Tribune Content Agency, LLC.