About that buyout offer? Never mind.
Amrep Corp.’s largest shareholder said he won’t pursue a buyout of the Princeton-based magazine distributor and provider of other services for publishers.
In a filing with the Securities and Exchange Commission on Thursday, Fort Washington philanthropist and businessman Nicholas G. Karabots withdrew a proposal he made Sept. 8 to buy Amrep for $12 per share.
Good thing, since Amrep shares have been trading above $12 since Sept. 9. Around midday Thursday, Amrep shares were down 79 cents, or 6 percent, to $12.51.