Corporate ActionJun 23, 2026, 05:01 PM
Destination XL Board Evaluating Revised $0.84/Share Tender Offer
AI Summary
Destination XL Group, Inc. (DXL) announced that its Board of Directors is evaluating a revised, unsolicited tender offer from Zodiac Partners II, LLC to acquire all outstanding shares for $0.84 per share in cash. The Board, with its financial and legal advisors, is assessing the offer and advises stockholders to take no action at this time. This follows the Board's unanimous rejection of a previous $0.82 per share offer from Zodiac on May 26, 2026, which it deemed opportunistic and not reflective of the Company's underlying value.
Key Highlights
- Zodiac Partners II, LLC made a revised tender offer of $0.84 per share in cash.
- DXL's Board is carefully evaluating the Revised Offer with independent advisors.
- Stockholders are advised to take no action pending the Board's review.
- A prior offer of $0.82 per share from Zodiac was unanimously rejected on May 26, 2026.
- DXL will file an amendment to its Schedule 14D-9 with the SEC regarding the offer.
Price Impact
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