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Article: Altair Taps Banker but Maintains It Doesn't Want To Sell.(Altair Nanotechnologies Inc.)(Brief Article)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- September 24, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Altair Nanotechnologies Inc. may have hired a banker to look at strategic options, but this isn't an auction, said the company's president.
"We're not interested in selling the company. A lot of people got that impression," said William Long, the president of the firm, which was formerly called Altair International Inc. Altair hired C.K. Cooper & Co. to advise.
Rather, the $30 million market cap company wants to find buyers for some of its non-core assets, and team up its core budding nanoparticles business with a larger firm. One competitor is Duesseldorf, Germany-based Degussa AG, said Long. But Altair is more likely to strike a deal with an old-line ...