Franchise Group gains on receiving unsolicited buyout proposal

Franchise

20/03/2023 13:54

** Shares of Franchise Group Inc  FRG.O  rise as much as
13.4% to $25.79
    ** Stock last up ~8.6%
    ** Vitamin Shoppe owner says it received an unsolicited
buyout proposal for $30 per share in cash
    ** Offer values the specialty retailer at ~$1.05 bln,
representing a near 32% premium to the share's closing price of
$22.75
    ** Co says its board will evaluate the proposal, makes no
assurance that the proposal will result in a deal
    ** Stock has fallen 48.7% in the past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))