Snyder Won't Comment on Sale Rumors
Marketing and advertising services company Snyder Communications Inc., Bethesda, MD, again this week refused to disclose details regarding any impending sale or proposed merger involving its assets despite acknowledgments of working with investment bank Deutsche Banc Alex. Brown to explore alternatives for the company's future.However, earlier published reports said bids for the company were scheduled to close today, after prospectuses were circulated to a number of large holding companies. In addition, Chris Hansen, a securities analyst at Bank of America, San Francisco, said he thinks Snyder already has "one bid in hand from an interested party, [but] they're continuing to make sure they get the best value for shareholders."
Snyder chief financial officer Clay Perfall said: "The company is not confirming where we are in this process."
