Actually, the title of this article should have been, MICC down on lack of merger news. Back in January, the company soared after it said that it was conducting a strategic review after it said that it had received a “high number” of unsolicited offers. Since then, the company said that it had been conducting due diligence, and that a promising offer had since fallen apart. The WSJ reported that this potential suitor was CHL, and that they were prepared to offer $5.3 billion for the company. MICC also said after the news that it remains “confident” in its future as an independant company. MICC closed at $33.33 on Monday, down over 12 points on the day.
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