LCI Industries said its board unanimously concluded that a revised, unsolicited proposal from Monomoy Capital Partners to buy all of LCI’s outstanding shares is not a superior offer to its pending deal with Patrick Industries—and is not reasonably likely to lead to one.
The announcement leaves Patrick’s previously agreed acquisition as LCI’s proposed transaction. Under that agreement, LCI would become a wholly owned subsidiary of Patrick, subject to the deal’s conditions.
Key details
- Monomoy’s revised proposal is non-binding and covers all outstanding LCI shares. The announcement does not provide its price or other financial terms.
- LCI’s board made its determination after consulting outside financial and legal advisers. It concluded both that the proposal falls short of a superior proposal and that it is not reasonably likely to lead to one.
- LCI and Patrick agreed to their merger on June 30, 2026. The transaction would make LCI a wholly owned Patrick subsidiary, subject to the required conditions.
- The announcement does not say that the Patrick deal has closed or that its terms have changed.
What changes for investors
The board’s decision means Monomoy’s revised approach does not displace the Patrick agreement on the terms described in the announcement. LCI’s proposed ownership change therefore remains a sale to Patrick, rather than a transaction with Monomoy.