LCI Board Rejects Monomoy's $101/Share Bid, Cites Standalone Value Above $150
LCII sits 26% above its 52-week low of $77.58 on elevated volume (2.9× avg).
Summary
LCI's board unanimously rejected Monomoy Capital Partners' unsolicited $101-per-share cash proposal, ruling it neither a superior proposal nor reasonably likely to become one. The board's key argument: an updated long-range plan, adjusted for RV industry headwinds, implies a standalone discounted cash flow midpoint above $150 per share — well over Monomoy's offer. It also said the bid sits materially below the implied value of LCI holders' pro forma ownership in the Patrick Industries combination, which carries roughly $150 million of expected net run-rate cost synergies within three years of closing. The board reaffirmed its recommendation for the all-stock Patrick deal and urged shareholders to vote FOR it at the special meeting on November 18, 2026. The companies say they remain on track to close in the first half of 2027, pending shareholder and regulatory approvals — the DOJ issued a Second Request on October 9, so antitrust clearance is the main gating item.
At the time of this announcement, 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 news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.