NEW YORK (AP) -- Brazilian machine tool maker Industrias Romi SA opened its attempted $92 million takeover of a U.S. metal-cutting equipment maker Tuesday.
Romi is offering $8 per share for outstanding shares of Hardinge Inc., which has already rejected several offers from Romi.
Romi went straight to shareholders with the pitch Tuesday after offering the same $8 per share to the company.
The offer represents a 46 percent premium to Hardinge's closing share price before the offer was made in February.
Hardinge, based in Elmira, N.Y., was first approached by Romi on Dec. 14.
The offer is set to expire on May 10.
Romi is traded on the Sao Paolo Stock Exchange in Brazil under the stock symbol "ROMI3."
