CKH - Seacor Holder T. Rowe Won't Tender Shares for American Industrial Deal

Seacor (CKH) holder T. Rowe Price, which owns ~14.6% of shares outstanding, said it won't tender its shares under the current terms of the takeover offer from American Industrial Partners.``We are writing to notify you that we have serious concerns about the proposed tender offer by American Industrial Partners to take the company private,'' T. Rowe wrote in a letter dated Jan. 11 to Seacor's board that was released in a filing after the close today.T. Rowe (TROW) described American Industrials' $41.50 deal for Seacor, which was inked last month, as ``an opportunistic transfer of value from public-market investors to private investors.''T. Rowe writes that the timing of the deal is alarming given that the price of Seacor was ``well below'' the company's intrinsic value due to 2020 economic conditions`` In short, our view is that an offer that represents only a 2% premium over book value is demonstrably inadequate – based

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Seacor Holder T. Rowe Won't Tender Shares for American Industrial Deal