S.A.C. Capital questions adequacy of ITT's offer for Edo

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Edo Corp. investors led by S.A.C. Capital Advisors, LLC believe the $56-per-share consideration for the company may be inadequate in Edo's proposed merger with ITT Corp. and its subsidiary Donatello Acquisition Corp.

On Oct. 23, Edo filed a schedule 14A with the Securities and Exchange Commission outlining the merger deal.

S.A.C. Capital, with a 6.1% stake in Edo, may discuss the transaction and other matters with Edo management, board members and fellow shareholders, according to a schedule 13D SEC filing.

New York-based Edo designs and manufactures products for aerospace, defense, intelligence, and commercial markets.

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