DealsJun 23, 2026, 05:07 PM
Destination XL to Review Revised $0.84/Share Tender Offer
AI Summary
Destination XL Group, Inc. announced it is reviewing a revised, unsolicited tender offer from Zodiac Partners II to acquire all outstanding shares for $0.84 per share in cash. The company's Board of Directors, with the assistance of independent financial and legal advisors, is carefully evaluating the offer. Stockholders are advised to take no action at this time, as the Board will make a recommendation in due course. This follows the Board's unanimous rejection of a previous $0.82 per share offer from Zodiac on May 26, 2026.
Key Highlights
- Zodiac Partners II made a revised, unsolicited tender offer to acquire all outstanding shares for $0.84 per share in cash.
- Destination XL Group's Board of Directors is carefully evaluating the Revised Offer with independent financial and legal advisors.
- Stockholders are advised to take no action at this time pending the Board's review.
- The Board previously unanimously rejected a prior tender offer from Zodiac at $0.82 per share on May 26, 2026.
- DXL will advise stockholders of the Board's position by filing an amendment to its Schedule 14D-9 with the SEC.
Price Impact
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