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The following content is from an older version of this website, and may not display correctly. A committee of board-members of NaviSite, provider of managed hosting and cloud-based services, has rejected last month's buyout offer by the investment fund Atlantic, which already owns one-third of the company, Dow Jones Newswires reports.
The offer valued NaviSite at about $111.3m. Atlantic, co-founded by NaviSite Chairman Andrew Ruhan and NaviSite CEO Arthur Becker, offered to buy all stock it does not already own at $3.05 per share, or 9.3 percent more than the company
The offer valued NaviSite at about $111.3m. Atlantic, co-founded by NaviSite Chairman Andrew Ruhan and NaviSite CEO Arthur Becker, offered to buy all stock it does not already own at $3.05 per share, or 9.3 percent more than the company