Compass Point Upgrades Patriot National (PN) to Buy
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Patriot National Rejects $475 Million Offer from Ebix, Inc.
November 8, 2016 1:46 PM ESTFORT LAUDERDALE, Fla., Nov. 8, 2016 /PRNewswire/ --Â Patriot National, Inc. (NYSE: PN), a leading provider of technology and outsourcing solutions, today announced that the Special Committee of its Board of Directors (the "Special Committee") has concluded that Ebix, Inc.'s most recent proposal of $475 million is not the best alternative to maximize value for Patriot National's shareholders and, at the recommendation of the Special Committee, the Board of Directors has rejected the proposal. The Special Committee continues to evaluate other more attractive offers and all opportunities for value creation.... More
