The Street has been slow to warm to the $214 million cash tender for Steri-Genics International Inc., and various market sources were wondering why. Announced on June 11, the $27-per-share offer by Belgium-based Ion Beam Applications (IBA) was infused with enough doubt to discount SteriGenics stock by as much as $2.50, relative to the offer. It traded up to $26.625 per share on the day of the announcement, but the following trading day, June 14, it closed at $24.50, down $1.
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