UPDATE 1-Hardinge to evaluate Romi's buyout offer

Fri Feb 5, 2010 4:41pm EST

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Feb 5 (Reuters) - Hardinge Inc (HDNG.O) said it will evaluate the $90 million unsolicited buyout offer from Brazilian machine tool maker Industrias Romi SA (ROMI3.SA).

Hardinge, which makes precision metal-cutting tools, said it has engaged Jefferies & Co as its financial adviser, and Wachtell, Lipton, Rosen & Katz as its legal adviser, to assist in evaluating and responding to Romi's proposal.

On Thursday, Romi said it submitted an $8-a-share all-cash offer to Hardinge after the latter refused to engage in talks for about two months. [ID:SGE6130JO]

Shares of Hardinge rose as much as 15 percent to $9.31 after the bell. They closed at $8.07 Friday on Nasdaq. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Anne Pallivathuckal)