One day after receiving a takeover bid from RCM Acquisition Co., Internet domain name registration and services provider Register.com Inc. rejected the unsolicited offer.
“This offer does not reflect the significant opportunities Register.com has to grow value for our stockholders,” said Register.com executive chairman Mitchell I. Quain, in a statement. “By going public with their offer, RCM Acquisition Co. hopes to pressure Register.com’s stockholders and board into selling at an inadequate price during this inopportune time of market turbulence.”
Venture capital company RCM offered to acquire Register.com, for $4.95 per share.
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