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InsideArbitrage Potential Deal Alert: LL Flooring (LL) Founder Offers $5.76 a share For Company

  • May 30, 2023

POTENTIAL DEAL DETAILS

StockLL Flooring Holdings, Inc.SymbolLL
Date Announced05/31/2023Source Press Release
TypeUnsolicited BidAcquiring Company/Person Cabinets To Go

LL Flooring (LL) confirmed that it has received an unsolicited, non-binding proposal from Cabinets To Go, a subsidiary of F9 Brands to acquire all of the outstanding shares of the company for $5.76 per share in cash. F9 Brands is owned by LL Founder Thomas D. Sullivan.

Update(s):

June 13, 2023: Howard Jonas, consortium of investors holding more than 5% of the outstanding shares of common stock of LL Flooring Holdings pushes LL in a sale process

June 26, 2023: LL Flooring (LL) rejected a non-binding proposal from Cabinets To Go for $5.76 per share in cash.

August 14, 2023: LL Flooring Holdings (LL) announced that its Board of Directors has initiated an exploration of strategic alternatives in response to the receipt of multiple interests regarding a potential transaction with the company.

August 17, 2023: LL Flooring Holdings (LL) founder withdrew his proposal to buy the flooring business, ending what was a second takeover attempt in four years.

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.