Solera Bank published a confidential offer letter, bumping its stock price.
The post Lakewood bank rejects $70M purchase offer as ‘grossly inadequate’ appeared first on BusinessDen.
A single-branch bank in Lakewood has revealed that it received — and promptly rejected — an unexpected offer to purchase it for $70 million, modestly bumping up its stock price.
“The board (of directors) received this unsolicited offer and found it to be grossly inadequate,” Solera National Bank, at 319 S. Sheridan Blvd., explained in a news release Oct. 30.
The offer letter was sent by Davi Cancado A. Cunha of Eleva Rewards, a Brazilian tech firm. He declined to discuss his bid for the bank and Solera’s decision to publicize it.
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