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Mergers News

Reddy Ice shareholder opposes takeover by GSO Capital

July 16 (Reuters) - Shamrock Capital Advisors Inc., owner of 5.4 percent of Reddy Ice Holdings Inc. FRZ.N, said it opposed Reddy's takeover by hedge fund GSO Capital Partners LP at $31.25 a share as the purchase price was grossly inadequate.

Shamrock said it proposed that Reddy Ice, a maker of packaged ice, commence a self-tender for about 15 percent of the outstanding shares at $33 a share. (Reporting by Supantha Mukherjee in Bangalore)

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