Mergers & Acquisitions ·
LCI Board rejects Monomoy Capital Partners' $101 per share cash bid as inferior to Patrick merger
LCIILci Industries
LCI Industries announced that its Board of Directors unanimously determined an unsolicited, non-binding proposal from Monomoy Capital Partners to acquire the company for $101 per share in cash does not constitute a superior offer. The board cited a standalone discounted cash flow valuation exceeding $150 per share and significant value creation from the pending merger with Patrick Industries, which includes approximately $150 million of net run-rate cost synergies. LCI reiterates its support for the Patrick transaction, targeting completion in the first half of 2027 subject to shareholder approval at a special meeting on November 18, 2026, and regulatory clearances. The company operates as a global supplier of engineered components to the outdoor recreation and transportation markets.