Burton Makes Bid to Take Cenveo Helm

BCM's proposal valued the company at 8.5 times Cenveo's trailing 12-month EBITDA, representing a premium of approximately 155 percent over the average of its closing prices for July 2004. Burton wrote that he was told the company was "only willing to entertain discussions with us if we would indicate a valuation rate in the 'high-single digits.'" He felt that neither historical or projected earnings, business properties and portfolio, or precedented transaction comparables justified the pricetag, and talks halted.