February 21, 2018 / 10:42 PM / a year ago

Brazil restaurant company IMC declines to give opinion on merger proposal

SAO PAULO, Feb 21 (Reuters) - Brazilian restaurant chain company International Meal Company SA said in a securities filing on Wednesday that its board declined to analyze a merger proposal by privately held company Sapore SA.

The board said the reasons for not issuing an opinion were the lack of previous discussions of a merger agreement and that Sapore’s proposal does not grant any premium to the company’s shareholders, according to the filing. (Reporting by Tatiana Bautzer Editing by Matthew Lewis)

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