F9 Investments And CTG Sent Letter To CEO, Chairperson Of Board To LL Flooring Withdrawing Offer In Letter Of Nov 14 2023; F9 And CTG Withdrew Offer To Acquire All Of Outstanding Shares Of Common Stock Of LL Flooring Holdings For $3/Share
Portfolio Pulse from Benzinga Newsdesk
F9 Investments and CTG have officially withdrawn their offer to acquire all outstanding shares of LL Flooring Holdings for $3 per share, as stated in their letter to the CEO and Chairperson of the Board, according to an SEC filing.
January 18, 2024 | 1:58 pm
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F9 Investments and CTG have withdrawn their previous offer to buy LL Flooring Holdings at $3 per share, which may negatively impact investor sentiment and the stock price.
The withdrawal of the acquisition offer by F9 Investments and CTG is likely to be seen as a negative development by investors, as it removes the potential for a buyout premium on LL Flooring's stock. This could lead to a decrease in the stock price in the short term as the market adjusts to the news.
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IMPORTANCE 90
RELEVANCE 100