Central European Distribution Talks to Benzinga About Russian Standard's Proposal
Central European Distribution Corp (NASDAQ: CEDC) announced today it received the following letter from Mark Kaufman. In the letter Mr. Kaufman stated that "I share the view that the current financial and operational situation of CEDC requires immediate and decisive action. "
This letter is related to yesterday's announced that the company received a letter from Russian Standard proposing strategic alliance and outlining a general proposal to acquire an additional approximately 19.9% of the Company's pre-dilution outstanding shares in exchange for assets of Roust Inc. and to assist CEDC in restructuring its outstanding indebtedness.
In the company's press release Central European Distribution Corp announced that its Board intends to evaluate the proposal consistent with its fiduciary duties to act in the best interest of the Company's stockholders.
The company's spokesperson told Benzinga that it is too early to say when the company is going to come up with a decision regarding Russian Standard's proposal. She said that this is just the first offer and the company is currently reviewing it, but at this point it is impossible to give a time frame.
Central European Distribution is currently trading at $5.66, a loss of $0.38 or 6.29%.
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