LCI board rejects Monomoy's revised $104.5-per-share proposal
LCII•LCI Industries’ board rejected Monomoy Capital Partners’ revised, unsolicited, non-binding cash proposal of $104.50 per share, saying it substantially undervalues the company. LCI reiterated support for its merger with Patrick Industries, which remains on track to close in the first half of 2027.
1. Board rejects offer
LCI Industries said its board determined Monomoy Capital Partners’ revised proposal does not constitute a superior proposal and continues to substantially undervalue LCI. The board reiterated support for the merger with Patrick Industries, which the companies remain on track to complete in the first half of 2027.
