The Board of telescope maker Meade Instruments Corp. (MEAD) Friday urged its stockholders to reject the tender offer of VictoryOne Inc., a unit of MIT Capital Inc., to acquire all of the outstanding shares of Meade common stock for $3.65 per share in cash.
The Board reaffirmed its recommendation that Meade stockholders vote in favor of a merger deal with JOC North America LLC, which agreed to acquire Meade for $3.45 per share in cash.
Reasons the Board cited against the tender offer of MIT Capital offer include
- The deal with JOC is a binding, negotiated commitment, and Meade's failure to reject the MITC Offer and/or failure to reaffirm the deal with JOC, would give JOC the ability to terminate the deal, with no assurance that MITC would complete its offer.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.