By Denny JacobLL Flooring Holdings on Tuesday confirmed it received an unsolicited proposal from an F9 Brands subsidiary to acquire all outstanding shares of the company for $5.76 a share in cash. F9 Investments along with Thomas Sullivan and Jason Delves said in a letter it disclosed to the Securities and Exchange Commission that it took a roughly 9.4% stake in LL Flooring. The group said they acquired shares with the intent of exploring a possible combination between LL Flooring and Cabinets to Go, the F9 Brands subsidiary. LL Flooring said its board will carefully review and consider the proposal. Shares of LL Flooring retreated 7.2% to close at $4.14 during the regular session and was up 16% after hours.

Source: Wall Street Journal May 31, 2023 09:35 UTC