Bassett Furniture Shares Surge On Buyout Proposal At 27% Premium

by Shivani Kumaresan, Benzinga Staff Writer

October 11, 2022 10:24 AM | 1 min read |

CSC Generation Holdings Inc has made public its proposal to acquire 100% of the outstanding shares of Bassett Furniture Industries Inc BSET for $21 per share.
The proposal represents a 27% premium over the most recent closing price of $16.51.
CSC said BSET Board has been unwilling to engage in any meaningful way despite submitting a proposal on June 30, 2022, and September 26, 2022.
Therefore, CSC has made its offer public in order to facilitate constructive discussions with the Board with the goal of entering into a mutually agreeable transaction in the best interests of all shareholders.
Price Action: BSET shares are trading higher by 7.03% at $17.67 on the last check Tuesday.