- Flexsteel Industries Inc FLXS has received a take-over offer from the technology company CSC Generation Holdings Inc. for $20.80 per share in cash.
- The offer represents approximately a 22% premium over the closing price of $17.10 on August 23, 2022.
- In a letter written to the Board of Directors, CSC's founder and CEO Justin Yoshimura have submitted the new proposal.
- CSC is backed by Altos Ventures, and Khosla Ventures, among others.
- CSC revealed disappointment that Flexsteel's Board has failed to respond to its recent acquisition proposal.
- Flexsteel posted mixed Q4 earnings, hurt by slowing demand, excess retail inventory, and inflationary and pricing pressures.
- Price Action: FLXS shares are trading higher by 14.63% at $19.60 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
