Standard Industries Hits Back at Braas Monier Over Bid Price

  • U.S. firm defends price, rationale for deal after rejection
  • Letter calls Braas’s claims ‘misleading’ and ‘falsehoods’

Standard Industries Inc., the U.S. roofing and waterproofing business, defended its 980 million-euro ($1.1 billion) offer for German supplier Braas Monier Building Group SA, rejecting claims made by the target that its bid is too low.

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