POTENTIAL DEAL DETAILS
|Stock||Flexsteel Industries, Inc.||Symbol||FLXS|
|Date Announced||08/24/2022||Source||Press Release|
|Type||Unsolicited Bid||Acquiring Company/Person||CSC Generation|
September 01, 2022: Flexsteel Industries, (FLXS) announced that its Board of Directors, in consultation with its independent financial and legal advisors, has unanimously rejected the unsolicited, preliminary non-binding proposal from CSC Generation Holdings to acquire Flexsteel for $20.80 per share in cash.
“After careful review and consideration of CSC’s unsolicited proposal, our Board determined that the proposal substantially undervalues Flexsteel, is opportunistic and is not in the best interest of the Company or our shareholders,” said Flexsteel Chairman Thomas M. Levine.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.