CSC Generation Submits Proposal to Acquire Flexsteel Industries (FLXS) for $20.80 Per Share in Cash

POTENTIAL DEAL DETAILS

CSC Generation submits proposal to acquire Flexsteel Industries (FLXS) for $20.80 Per Share in Cash

Update(s):

August 24, 2022: Flexsteel Industries (FLXS) confirms receipt of the unsolicited proposal from CSC Generation, and says will evaluate the proposal

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.

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