Zinger Key Points
- PGT Innovations states on Tuesday afternoon that it received an unsolicited proposal from Miter Brands.
- The announcement was preceded by a halt on the trading of PGT Innovations stock.
- Discover Fast-Growing Stocks Every Month
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.
Related Link: What's Going On With Fisker Stock?
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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
