What's Up With PGT Innovations Stock?

PGT Innovations, Inc. PGTI shares traded lower on Tuesday. Trading of the stock was halted late Tuesday afternoon before the company stated it received an unsolicited proposal from Miter Brands.

What To Know: Following the halt on trading of PGT shares Tuesday, the company announced before the close of the market that it received an unsolicited proposal from Miter Brands to acquire all outstanding shares of its common stock for $41.50 per share in cash.

The new development comes two weeks after the company entered into a definitive agreement to be acquired by Masonite International Corp. DOOR for $41.00 per share in cash and Masonite stock.

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PGTI Price Action: Shares of PGTI were down 1.12% at $40.24 at the halt of trading, according to Benzinga Pro.

Photo: Pawel Grzegorz from Pixabay