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Chemlawn Corp. rejected a takeover offer.

March 06, 1987

The Columbus, Ohio-based lawn care company said the offer from a company controlled by Waste Mangement Inc. was inadequate and said it will seek other buyers for the firm. In a statement, the board urged Chemlawn shareholders not to tender their shares. It also told management and the company's financial adviser, Smith Barney, Harris Upham & Co., to pursue alternatives to increase the value of Chemlawn shares. Chemlawn also said it had filed suit against Waste Management in U.S. District Court in Columbus, seeking to block the tender offer.

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