logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing company Lyft announced its foray into the media and advertisement business with the launch of Lyft Media as part of its vision to build the world's largest transportation media network. Lyft Media has built a suite of new products to allow advertisers to engage with Lyft's growing audience throughout their transportation journeys. Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow. Earnings for the quarter spiked to $509.99 million from $151.09 million last year. On a per share basis,... Longmont Colorado -based Royal Crest Dairy is recalling 2% Chocolate Milk citing the potential to be contaminated with undeclared egg, a known allergen, the U.S. Food and Drug Administration said. The recall involves Farmer's 2% Reduced Fat Chocolate Milk Pints with the code date of AUG-22.
Follow RTT