Cosmos Capital withdraws offer for Cossette
By Adnews Staff
Cosmos Capital has withdrawn its offer to purchase Cossette. The company's most recent offer was $7.87 per share. Mill Road Capital has an agreement in place to purchase Cossette at a price of $8.10 per share. Cosmos has expressed its intention to not submit a higher bid, citing its inability to review certain non-public Cossette data. "Though the process lasted longer than expected and the result was not the one we had hoped for, we are convinced that it will be beneficial for Cossette's shareholders, customers and partners, as well as for its talented employees," said François Duffar, chairman and CEO of Cosmos Capital. "They can now focus their efforts on helping the company regain the position it deserves. We wish our former colleagues much success with the company and with their business association with Mill Road."