the Hochtief buyout of Armbro construction now Aecon 2006 i believe. They offered 6.25 share owned 49 % of company. Hot was German firm.
Shareholders turned it down flat, Armbro went to 11.00 a share, after the transaction the ceo stated it was good the shareholder rejected the offer.
Prioe to the offer managment stated it was a good deal.