The board of directors of telescope maker Meade Instruments Corp. (NASDAQ:MEAD) asked its shareholders to reject the $3.65 per share cash offer of VictoryOne.
VictoryOne Inc is a unit of San Jose venture capital firm MIT Capital Inc. It has proposed to acquire all outstanding shares of Meade Instruments for $3.65 per share in cash.
The board reaffirmed its earlier recommendation to shareholders to vote in favor of a merger deal with Jinghua Optics & Electronics Co. in Guangzhou, through its U.S. subsidiary, JOC North America...
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