LL Flooring stock jumps 12% after company says it is 'exploring alternatives' for itself
LL Flooring Holdings Inc.'s (LL) shares rallied more than 12% in the extended session Monday after the company formerly known as Lumber Liquidators said that its board of directors has started "an exploration of strategic alternatives" in response to receiving "multiple" expressions of interest around a deal. As part of the process, the board "will consider a wide range of options for the company including, among other things, a potential sale, merger or other strategic transaction," LL Flooring said. LL Flooring's board in June unanimously rejected a hostile cash buyout bid of $5.76 as share from F9 Brands Inc. subsidiary Cabinets To Go LLC. "As the board noted at that time in rejecting the proposal, it remains open to considering a transaction that appropriately reflects the company's value and prospects," it said Monday.
-Claudia Assis
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08-14-23 1716ET
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