Rocky Mountain Chocolate Factory Inc on Wednesday listed "numerous issues" with a supposed takeover offer from PST Capital Group Ltd, indicating the bid was likely bogus.
Rocky Mountain shares were flat in late-morning trade after rising earlier on news of the offer, revealed on Tuesday in a U.S. securities filing.
The company, which makes candy and franchises candy stores, said that if it finds the offer to be credible, it will consider the matter.
The filing listed a phone number for PST's legal director, Steve Johnson. A call to that number was forwarded to a message that said, "Your party is not answering. Please try your call later."
It also listed law firm Lauby & Hogans LLP. A phone call to the number listed did not go through. An Internet search for the law firm did not come up with any results besides those connected with the Rocky Mountain bid.
The address for PST listed on the filing appears to be Speedy Parcel Post, a mailbox and shipping store in London. Rocky Mountain said the address listed for the law firm appeared to be a Pacific Mail mailbox store in Irvine, California.
The company also said it received a letter from PST in a handwritten envelope addressed to the chairman of its board. The chairman's name was misspelled.
According to Rocky Mountain, the return address listed a law firm that, when contacted, said it did not represent PST.
Rocky Mountain said it had notified the SEC, FINRA and Nasdaq regarding the unusual nature of the offer.
A spokesman for the SEC declined to comment.
(Reporting by Martinne Geller and Mike Erman in New York; editing by Jeffrey Benkoe and John Wallace)