Seer Stockholders Radoff, Torok Urge Board to Disclose Timeline for Evaluating Takeover Bids

MT Newswires Live02:00

Seer (SEER) stockholders Bradley Radoff and Michael Torok called on the board Thursday to disclose the timeline for evaluating the latest acquisition bids and acknowledge that the company should be taken private.

In a letter to the board, Radoff and Torok said they met with the board's special committee after submitting their fourth proposal and came away believing that the committee is "not truly interested" in evaluating a potential transaction.

Radoff and Torok said their group, including certain affiliates, collectively owns about 7.7% of the company. Their fourth proposal, submitted on July 28, offered to acquire Seer for $2.55 per share in cash.

Seer did not immediately respond to a request for comment from MT Newswires.

Shares of the company were down 1.4% in Thursday trading.

Price: 2.11, Change: -0.03, Percent Change: -1.40

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