LCI Industries Board Unanimously Rejects Revised Unsolicited Proposal From Monomoy Capital Partners At $104.50/Share In Cash
Benzinga Newsdesk 1 hour ago
M&ANews
Board of Directors (the "Board"), in consultation with its outside financial and legal advisors, has unanimously determined that a revised, unsolicited, non-binding proposal received from Monomoy Capital
Board of Directors (the "Board"), in consultation with its outside financial and legal advisors, has unanimously determined that a revised, unsolicited, non-binding proposal received from Monomoy Capital Partners to acquire LCI for $104.50 per share in cash does not constitute a superior proposal and is not reasonably likely to lead to a superior proposal. To provide shareholders the relevant information ahead of LCI’s Special Meeting of Shareholders scheduled for November 18, 2026, detail on the Board’s evaluation of Monomoy’s revised proposal is below, and a copy of Monomoy’s revised proposal, received late in the evening of Friday, November 6, 2026, has been filed by LCI in a supplement to the joint proxy statement/prospectus with the SEC.
Following receipt of the revised proposal, the Board, together with its financial and legal advisors, carefully re-evaluated the proposal and its accompanying materials and determined that the revised proposal continues to substantially undervalue LCI, both on a standalone basis and relative to the value creation opportunity of LCI’s pending merger with Patrick Industries (NASDAQ:PATK) ("Patrick"). The Board continues to believe that the merger with Patrick is the best path to maximize long-term sustainable shareholder value.