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LL Flooring says buyout bid at 34% premium ‘significantly undervalues’ company

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Shares of LL Flooring Holdings Inc. rallied 4.7% in premarket trading Monday after the wood flooring company said it has rejected a hostile cash buyout bid...

Shares of LL Flooring Holdings Inc. LL rallied 4.7% in premarket trading Monday after the wood flooring company said it has rejected a hostile cash buyout bid of $5.76 as share from F9 Brands Inc. subsidiary Cabinets To Go LLC. The bid represents a 34.3% premium to Friday’s closing price of $4.29. The company had confirmed in late-May that it had received a buyout bid, but at that time did not disclosed the per-share bid. LL Flooring said it determined the $5.

76 as share from F9 Brands Inc. subsidiary Cabinets To Go LLC. The bid represents a 34.3% premium to Friday’s closing price of $4.29. The company had confirmed in late-May that it had received a buyout bid, but at that time did not disclosed the per-share bid. LL Flooring said it determined the $5.76-per-share bid “significantly undervalues” the worth of the company. “If you were to significantly increase your $5.

 

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