Corporate ActionMay 26, 2026, 04:53 PM
Destination XL Board Rejects Zodiac Partners II's $0.82 Tender Offer
AI Summary
Destination XL Group, Inc. announced that its Board of Directors unanimously recommends shareholders reject the unsolicited tender offer from Zodiac Partners II, LLC for $0.82 per share. The Board, after review with advisors, determined the offer does not reflect the Company's underlying value and is opportunistic. In light of the resources required to review the offer, the Company has rescheduled its fiscal first quarter earnings release and conference call to June 3, 2026.
Key Highlights
- Destination XL Group's Board unanimously recommends shareholders reject Zodiac Partners II's tender offer.
- Zodiac Partners II's tender offer is for $0.82 per share.
- The Board determined the offer does not reflect the Company's underlying value and is opportunistic.
- DXL filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC.
- The Company rescheduled its fiscal first quarter earnings release and conference call to June 3, 2026.
- Guggenheim Securities, LLC is acting as financial advisor to DXL.
Price Impact
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