PGI Innovations has rejected a bid worth around $2.2B from Koch Industries-backed Miter Brands, Reuters’ David Carnevali and Anirban Sen report. According to sources, PGT’s board has refused a $38 per share cash offer from Miter. PGT previously turned down a $33 per share bid from Miter, which is working with lenders to further raise its offer, the sources say.
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