Even after ICO Inc. hired Bear Stearns to help it look at strategic alternatives, hostile bidder Travis Street Partners (TSP) was still thumping its tub. ICO said it would try to find a buyer after TSP made its $2.85 per share, or $65 million, cash bid back in December. But TSP has also launched a proxy contest to oust three members of ICO’s staggered board at the annual shareholders meeting scheduled for early March. But even with an investment bank now in tow, TSP still seems to be loudly complaining.
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