Delta Apparel, Inc. (AMEX:DLA) shares are trading higher in Monday’s after-hours session after the company announced it received an unsolicited offer to purchase its Salt Life business.
What To Know: The company’s Board of Directors has engaged Baird as its financial advisor. Any decision regarding the potential transaction or other strategic alternative remains subject to approval by the Delta Apparel Board of Directors.
“Our Board of Directors and management team are committed to maximizing value for Delta Apparel shareholders, and we believe it is in their best interests to conduct a thorough review of strategic options for our Salt Life business given the widespread interest in it,” said Bob Humphreys, Chairman and CEO.
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DLA Price Action: Shares of DLA were up 19.3% at $7.85 in the after-hours session at the time of publication, according to Benzinga Pro.
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