Flexsteel soars after CSC Generation acquisition proposal

Flexsteel Industries

24/08/2022 19:06

** Home furniture company Flexsteel Industries Inc's shares
 FLXS.O  up ~15% at $19.69 during afternoon trading 
    ** Private company CSC Generation Holdings Inc has proposed
to acquire 100% of FLXS stock for an all-cash deal valuing FLXS
at $20.80 per share  urn:newsml:reuters.com:*:nBwbTl27va
    ** Offer reflects a premium of ~22% on co's Tuesday closing
price 
    ** We would be able to fully fund the transaction using cash
on hand and external financing from our existing lenders, such
that the transaction would not be contingent on obtaining
financing - says CSC
    ** Stock has fallen ~27% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))