Vector Rejects IMP Majority Control

By Staff Writer | September 30, 2009
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The board of directors of Toronto-based Vector Aerospace Corp. has declined a bid from IMP Group International to increase its stake in the company from 37 to 53 percent. IMP announced its offer to increase the stake on Monday. Vector CEO Declan O'Shea says that a committee reviewed the IMP proposal and alternatives to it, and concluded that the plan was not in the best interest of the company and shareholders.
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