NEW YORK — Maxwell Communication Corp. said today it had rejected an offer of undisclosed size for its 56% stake in Berlitz International Inc., the language services company that went public late last year.
The British-based Maxwell called the offer inadequate but declined to say what the offer was.
Maxwell Chairman Robert Maxwell said in a statement that the offer had come from K-III Holdings, a partnership led by the former head of the Macmillan Inc. publishing company and financed largely by the leveraged buyout specialists Kohlberg Kravis Roberts & Co.
