LL Flooring board rejects buyout offer from its founder, shares rise

Ll Flooring Holdings

26/06/2023 12:24

** Shares of home furnishing retailer LL Flooring  LL.N  up
3.3% at $4.43 premarket 
    ** Co says its board has rejected an unsolicited buyout
offer from Cabinets To Go, a unit of F9 Brands
    ** Says the $5.76/shr offer significantly undervalues LL and
it's not in the best interest of the shareholders
    ** Adds that board remains open minded to all opportunities
to enhance value 
    ** Cabinets to Go is run by founder and CEO Tom Sullivan,
who also started LL Flooring in 1994
    ** Stock down 23.7% YTD as of last close

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))