LCI Sets Nov. 18 Merger Vote; 1.2440 PATK Ratio Now Worth ~$84.64/Share
LCII is trading near its 52-week low of $77.58 (5.6% above the low).
Summary
LCI's definitive merger proxy sets a November 18, 2026 stockholder vote on the all-stock combination with Patrick at a fixed 1.2440 exchange ratio — worth about $84.64 per LCI share at Patrick's October 16 close, well below the ~$115.92 implied at signing. Closing is targeted for the first half of 2027, pending a DOJ Second Request and both shareholder votes.
Key Events · M&A and Partnerships · LCII
-
Special Meeting Set for November 18
LCI stockholders vote at a virtual meeting on November 18, 2026 (9:00 a.m. ET) on adopting the merger agreement; Patrick shareholders vote the same day at 10:00 a.m. ET. The record date was October 15, 2026, with 24,312,075 LCI shares and 32,118,264 Patrick shares outstanding.
-
Fixed 1.2440 Ratio Worth ~$84.64
Each LCI share converts into 1.2440 Patrick shares plus cash for fractional shares. At Patrick's October 16, 2026 close of $68.04 that equals about $84.64 per LCI share, versus ~$115.92 implied at the June 29, 2026 signing price of $93.18 — the ratio does not adjust for market moves.
-
DOJ Second Request Still Open
The parties received a DOJ Second Request on October 9, 2026 after withdrawing and refiling their HSR notification in September. Closing is targeted for the first half of 2027, with an outside date of March 30, 2027 that can extend to June 30, 2027 and then September 30, 2027 if antitrust clearance is the only remaining condition.
-
52/48 Split and $150M Synergy Target
Patrick holders would own about 52% and LCI holders about 48% of the combined company. Management targets roughly $150 million of net annual run-rate cost synergies within three years; pro forma 2025 revenue was $8.06 billion with net income of $220.0 million and diluted EPS of $3.38.
Analysis · LCII · Manufacturing
The definitive proxy for the all-stock merger of equals with Patrick Industries is now on file, and it puts hard dates and numbers on a deal the market has been trading since June 30. LCI holders vote November 18 on converting each share into 1.2440 Patrick shares — worth about $84.64 at Patrick's October 16 close of $68.04, down sharply from the ~$115.92 implied at signing because the ratio is fixed and Patrick's stock has fallen. That gap is the real story: LCI holders are exposed to Patrick's price until closing, which is now expected in the first half of 2027 and still hinges on a DOJ Second Request issued October 9. Approval requires a majority of all LCI shares outstanding, so abstentions count as votes against. The combined company would carry roughly $8.1 billion of pro forma revenue and target $150 million of net synergies within three years, with Patrick holders owning about 52% and LCI holders about 48%.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. 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 $81.92 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2B. 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.