Technicolor Rejects Higher JPMorgan Investment Proposal – NYTimes.com

Technicolor Rejects Higher JPMorgan Investment Proposal – NYTimes.com.

Technicolor Rejects Higher JPMorgan Investment Proposal - NYTimes.com

Technicolor rejected a revised investment bid byJPMorgan Chase on Monday after the film equipment maker’s board deemed the newer offer too onerous.

The decision by Technicolor’s board, less than two weeks away from a shareholder meeting, injects some uncertainty into the company’s plans to attract new capital.

It is still backing the original, lower JPMorgan offer over both the new proposal and a competing bid by a private equity firm, Vector Capital, that would have raised up to 186.4 million euros.

Once known as Thomson, Technicolor, which adopted the name of its famous American subsidiary, had been looking for an anchor investor to support the company’s turnaround after emerging from bankruptcy protection two years ago.

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