Fargo, N.D.-based RDO Equipment received an updated letter from Ronald Offutt, its chairman of the board and CEO, proposing to acquire at a purchase price of $6.01 per share all of the outstanding shares of the Class A common stock of the company that Offutt does not currently own or control. This represents a substantial increase from the $5.22 to $5.66 per share price range originally proposed by Offutt and is the result of discussions and negotiations between Offutt and the Special Committee of non-management directors that was formed to review and evaluate the offer.
