LL Flooring Rejects Acquisition Proposal From F9 Brands' Subsidiary

(RTTNews) - LL Flooring Holdings, Inc. (LL) said on Monday that it rejected the unsolicited acquisition proposal from Cabinets To Go, a unit of F9 Brands, Inc. citing significant undervaluation.

Cabinets To Go proposed to buy all of LL Flooring's shares for $5.76 per share in cash.

"The board is open to a transaction that reflects the company's values and prospects.", LL Flooring said in a statement.

The same has been communicated in a letter addressed to Cabinets To Go on June 26.

In premarket activity, shares of LL Flooring are treading at $4.3 up 0.23% or $0.01 on the New York Stock Exchange.