Why LL Flooring Shares Are Getting A Lift Tuesday

LL Flooring Holdings Inc LL shares are trading higher Tuesday after the company said it's exploring strategic alternatives. 

What To Know: LL Flooring has received interest regarding a potential transaction. As a result, the company's board has initiated an exploration of strategic alternatives to maximize shareholder value. 

On June 26, the company rejected a proposal to acquire all of its outstanding shares for $5.76 per share in cash, but noted it remains open to a transaction that appropriately reflects the value of the company.

"While this work is well underway, in light of external interest in the Company, the Board and management are taking the opportunity to explore a range of potential strategic alternatives to maximize shareholder value. We look forward to working diligently with our external advisors to identify the best path for the future of LL Flooring and all of our shareholders," said Nancy Taylor, independent chairperson of the board. 

LL Flooring, formerly Lumber Liquidators, is a specialty retailer of hardwood flooring in North America.

From Last Week: LL Flooring Posts Q2 Earnings Below Street View Due To Macroeconomic Impact

LL Price Action: LL Flooring shares were up 10.1% at $4.14 at the time of publication, according to Benzinga Pro.

Photo: Arek Socha from Pixabay.