LCI Proxy Supplement Details Board's Rejection of Monomoy's $101 Bid, Citing $142-$165 Standalone Value
LCII sits 26% above its 52-week low of $77.58 on elevated volume (2.9× avg).
Summary
LCI filed a proxy supplement explaining why its board rejected Monomoy's $101-per-share cash bid, disclosing that PWP's updated analysis values LCI standalone at $142-$165 per share and reaffirming support for the Patrick merger ahead of the November 18 vote.
Key Events · M&A and Partnerships · LCII
-
Board Rejects Monomoy's $101 Cash Bid
On October 29, 2026 the LCI board determined Monomoy's $101.00-per-share cash proposal did not constitute, and was not reasonably likely to lead to, a Lightspeed Superior Proposal, and reaffirmed its recommendation for the Patrick merger.
-
Standalone Value Pegged at $142-$165
PWP's updated discounted cash flow analysis implies LCI standalone value of $142.00 to $165.00 per share, above Monomoy's $101.00 offer; PWP was not asked to deliver, and has not delivered, an updated opinion.
-
Updated LCI Projections Show RV Softness
October LCI Standalone Projections show 2026E revenue of $3,946 million and Adjusted EBITDA of $428 million, rising to 2027E revenue of $4,145 million and Adjusted EBITDA of $441 million, reflecting lower RV wholesale shipment forecasts.
-
Valuation Assumptions Tightened
PWP raised DCF discount rates to 9.25%-10.25% from 8.75%-9.75% and cut terminal EBITDA multiples, citing higher interest rates and industry-wide market contraction.
Analysis · LCII · Manufacturing
This supplement puts hard numbers behind the board's rejection of Monomoy's $101-per-share cash offer. PWP's updated discounted cash flow analysis values LCI standalone at $142.00 to $165.00 per share, so the board concluded the bid was not a superior proposal and reaffirmed its support for the all-stock Patrick merger. The updated projections also show a softer RV market: LCI's 2027E revenue is $4,145 million with $441 million of Adjusted EBITDA, and PWP raised its discount rates to 9.25%-10.25% while cutting terminal multiples. Stockholders vote on the Patrick combination on November 18, 2026, and the $101 cash bid remains on the table only as a rejected, non-binding proposal.
How filings like this one have moved
In the 30 days to Oct 30, 2026, 38.6% of the 919 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LCII was trading at $98.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $77.58 to $159.66. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.