(MENAFN- ProactiveInvestors)Shares in Destination Maternity (NASDAQ:DEST) rose 29 cents to $6.87 in early deals Monday as suitor Orchestra-Premaman upped the cash element of its proposed bid. The French company's (EPA:KAZI) first approach was rebuffed by the maternity clothing retailer and although the new offer still values the US firm at around $125mln the children's clothing company is hoping the increased cash weighting in the shares-plus-cash offer will bring Destination Maternity's directors to the negotiating table. Orchestra-Premaman (OP) is now offering $2.6664 in cash plus 0.0596 of an OP share for each Destination Maternity share. Its previous offer was $1.8035 in cash and 0.0665 of an OP share. Destination Maternity had raised concerns that accepting the offer would leave US shareholders with stock that was only listed in Europe but OP said should the takeover be successful it would seek a listing in the US either on the New York Stock Exchange or the Nasdaq. OP's share price was little changed at €99.50 at the close on the Euronext bourse.
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