Franchise Group receives unsolicited bid to purchase outstanding shares

DELAWARE, Ohio — Franchise Group Inc., the owner of Home News Now 125 Retailers American Freight and Badcock Home Furniture & more along with Buddy’s Home Furnishings, has received an unsolicited, non-binding proposal to acquire the outstanding shares of the company.

The unnamed suitor is offering to purchase the outstanding shares of the common stock for a price of $30 per share, Franchise Group said in an announcement on its website Monday.

The company’s board of directors said that it will carefully evaluate the proposal to determine the course of action it believes is in the best interest of the company and all Franchise Group shareholders.

It also said that there are no guarantees that the proposal will result in a transaction, including the sale of its outstanding shares.

The company’s stock closed at $25.81 per share Monday, which was up 13.45%.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our Newsletter for breaking news, special features and early access to all the industry stories that matter!

Sponsored By: