LL Flooring stock surges 20% on Cabinets To Go’s acquisition proposal

LL Flooring Holdings Inc (NYSE:) stock jumped more than 20% after-hours following the company’s confirmation of an unsolicited proposal from Cabinets To Go, a subsidiary of F9 Brands, to acquire all outstanding shares of the company for $5.76 per share in cash.

The LL Flooring Board of Directors will review the proposal and consider it in the context of the company’s strategic plan. Shareholders do not need to take any action at this time, and further comments on the proposal will be provided after the Board completes its review.