Limoneira To Explore Potential Strategic Alternatives, Including Sale; Stock Up

(RTTNews) - Limoneira Co. (LMNR) said Friday that it has commenced a process to explore potential strategic alternatives aimed at maximizing value for stockholders.

LMNR is currently trading at $16.58 up $1.38 or 9.08%.

As part of the process, the company is exploring a range of potential alternatives including, but not limited to, a sale of all or parts of the Company, merger, and other potential strategic transactions.

The company has retained Stephens Inc. as its financial advisor and Squire Patton Boggs (US) LLP as its legal advisor to assist with the exploration of alternatives.

The Board has not set a timetable for the conclusion of this process and there can be no assurance that it will result in any transaction or other strategic change or outcome, Limoneira said.