- Franchise Group Inc (NASDAQ:FRG) revealed the receipt of an unsolicited non-binding proposal to acquire all of its outstanding shares at $30.00 per share in cash.
- The offer represents a premium of 32% to the company’s last closing price of $22.75.
- The Board of Directors will carefully evaluate the proposal to determine the course of action, said the company.
- Franchise Group made no assurance that the proposal would result in a transaction.
- Last year, retailer Kohl’s Corporation (NYSE:KSS) called off discussions with Franchise Group to sell its business.
- In January, there were reports that the company considered going private through a management buyout.
- Franchise Group’s business lines include Pet Supplies Plus, Wag N’ Wash, American Freight, The Vitamin Shoppe, Badcock Home Furniture & More, Buddy’s Home Furnishings, and Sylvan Learning.
- On a combined basis, Franchise Group currently operates over 3,000 locations, predominantly in the U.S.
- Price Action: FRG shares are trading higher by 9.65% at $24.94 on the last check Monday.
Cummins Announces Engine Production Milestones For Its Rocky Mount And Jamestown Engine Plants While Planning For The Future
Today, global power and technology leader Cummins Inc. (NYSE:CMI) announced the 5 millionth engine produced at its Rocky Mount Engine Plant (RMEP) along with its 2.5 millionth engine produced at its Jamestown Engine
