DealsMay 22, 2026, 07:02 AM
Destination XL Board Reviews Zodiac's $0.82/Share Tender Offer
AI Summary
Destination XL Group, Inc. announced that its Board of Directors is carefully evaluating an unsolicited $0.82 per share cash tender offer from Zodiac Partners II, LLC. This evaluation is being conducted with independent financial and legal advisors, taking into account DXL's existing merger agreement with FBB Holdings I, Inc. The Board advises shareholders to take no action at this time and will provide a recommendation within ten business days by filing a Schedule 14D-9 with the SEC.
Key Highlights
- DXL Board is evaluating an unsolicited $0.82 per share cash tender offer from Zodiac Partners II, LLC.
- The tender offer was made by Zodiac Partners II, LLC on May 12, 2026.
- The Board's evaluation considers DXL's existing merger agreement with FBB Holdings I, Inc.
- DXL shareholders are advised to take no action at this time.
- The Board will issue a recommendation within ten business days by filing a Schedule 14D-9.
- Guggenheim Securities, Greenberg Traurig, and Joele Frank are advising DXL.
Price Impact
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