Ithaco Inc

Odetics Inc., an Anaheim technology company, is having a difficult time persuading a small New York firm to accept its unsolicited buyout offer. Last month, Odetics offered to purchase Ithaco Inc., a maker of attitude control devices for spacecraft, for $6 per share, or $1.8 million. But Ithaco's board of directors has snubbed the offer. On Monday, Odetics said it has extended until May 31 the offer to purchase all or part of Ithaco's stock, which is held by a relatively small group of investors.

Odetics Inc., an Anaheim technology company, is having a difficult time persuading a small New York firm to accept its unsolicited buyout offer. Last month, Odetics offered to purchase Ithaco Inc., a maker of attitude control devices for spacecraft, for $6 per share, or $1.8 million. But Ithaco's board of directors has snubbed the offer. On Monday, Odetics said it has extended until May 31 the offer to purchase all or part of Ithaco's stock, which is held by a relatively small group of investors.

Odetics, an Anaheim robotics company, has made an unsolicited offer valued at $1.8 million to acquire Ithaco Inc., a New York firm that designs and manufactures direction-control devices for spacecraft. Members of the Ithaco board of directors, who with other company officers and employees own a majority of the Ithaca, N.Y., firm, have rejected Odetics' bid. "Our firm is undervalued.

Odetics, an Anaheim robotics company, has made an unsolicited offer valued at $1.8 million to acquire Ithaco Inc., a New York firm that designs and manufactures direction-control devices for spacecraft. Members of the Ithaco board of directors, who with other company officers and employees own a majority of the Ithaca, N.Y., firm, have rejected Odetics' bid. "Our firm is undervalued.