Oct 13 (Reuters) - Cardno Ltd CDD.AX :
* Directors reaffirm their earlier recommendation to shareholders to reject the crescent offer
* Says "offer significantly undervalues Cardno, does not provide an adequate premium for control of Cardno"
* Says offer may impact on cardno's financing
* The independent expert assessed the value of Cardno shares to be between $3.74 and $4.13 per share
* Source text for Eikon ID:nASX5PYCxN