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Griffon Initiates Review Of Comprehensive Range Of Strategic Alternatives, Including Sale

Griffon Corp. (GFF) announced Monday that its Board of Directors has initiated a process to review a comprehensive range of strategic alternatives to maximize shareholder value including a sale, merger, divestiture, recapitalization or other strategic transaction.

The company noted that the Board and management believe that there is a profound disconnect between Griffon's share price and the underlying value of their businesses. It found it necessary to consider a review of alternatives, with a focus on maximizing near-term shareholder value creation.

Griffon has retained Goldman Sachs & Co. LLC as its financial advisor and Dechert LLP as its legal counsel to assist in the review process.

The company said there is no timeline for this review and there is no assurance that the Board's review will result in any transaction being entered into or consummated.

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