LCI Board Determines that Revised, Unsolicited, Non-Binding Proposal from Monomoy Capital Partners Does Not Constitute a Superior Proposal
Key Highlights
- ➤Monomoy offers $104.50 per share cash; LCI Board rejects it as not superior
- ➤LCI standalone discounted-cash-flow midpoint exceeds $150 per share
- ➤Patrick merger targets approximately $150 million net run-rate cost synergies
- ➤LCI and Patrick remain on track to close merger in first half of 2027
- ➤ISS and Glass Lewis recommend shareholders vote for Patrick merger
Expert Statements
Ginnie Henkels, Chair of the Board of Directors of LCI Industries
“The LCI Board of Directors takes seriously its responsibility to best serve the interests of all LCI shareholders, and it is through that lens that we evaluate opportunities to maximize shareholder value, including proposals to merge with or acquire LCI”
Ginnie Henkels, Chair of the Board of Directors of LCI Industries
“Through discussions that began in earnest in the fall of 2025, we evaluated various opportunities with the support of our financial and legal advisors and ultimately determined that the merger with Patrick we announced in June provides the best opportunity to maximize LCI shareholder value.”
Ginnie Henkels, Chair of the Board of Directors of LCI Industries
“Monomoy’s revised proposal is a modest increase to its initial offer and remains nowhere near LCI’s standalone value or the value creation opportunity of our combination with Patrick.”
Ginnie Henkels, Chair of the Board of Directors of LCI Industries
“As it did with Monomoy’s first proposal, the Board, with its advisors, has rigorously evaluated the revised proposal and determined that it does not constitute, and is not reasonably likely to lead to, a superior proposal.”
LCI Board Determines that Revised, Unsolicited, Non-Binding Proposal from Monomoy Capital Partners Does Not Constitute a Superior Proposal
LCI Industries (NYSE: LCII) (“LCI”) today announced that its Board of Directors (the “Board”), in consultation with its outside financial and legal advisors, has unanimously determined that a revised, unsolicited, non-binding proposal received from Monomoy Capital Partners to acquire LCI for $104.50 per share in cash does not constitute a superior proposal and is not reasonably likely to lead to a superior proposal. To provide shareholders the relevant information ahead of LCI’s Special Meeting of Shareholders scheduled for November 18, 2026, detail on the Board’s evaluation of Monomoy’s revised proposal is below, and a copy of Monomoy’s revised proposal, received late in the evening of Friday, November 6, 2026, has been filed by LCI in a supplement to the joint proxy statement/prospectus with the SEC.
Get started
Create a free account to read the full story.