Lifetime Brands Confirms Receipt of Unsolicited Indication of Interest
March 14 2017 - 4:02PM
Business Wire
Lifetime Brands, Inc. (NasdaqGS:LCUT), a leading global provider
of branded kitchenware, tableware and other products used in the
home, today confirmed that it has received an unsolicited
non-binding indication of interest from Mill Road Capital
Management LLC expressing its interest in acquiring all of the
outstanding shares of Lifetime that it does not already own for a
$20.00 per share price in cash.
Lifetime’s Board of Directors is committed to acting in the best
interests of all stockholders. Consistent with its fiduciary duties
and responsibilities, Lifetime’s Board of Directors will, in
consultation with its financial and legal advisors, carefully
evaluate and consider this indication of interest in due course in
the context of Lifetime’s strategic plans, and its ongoing review
of a broad range of opportunities to enhance stockholder value
through strategic, financial and operational measures. Lifetime’s
stockholders do not need to take any action at this time.
Lifetime cautions its stockholders and others considering
trading in its securities that it has just received Mill Road
Capital’s unsolicited indication of interest and no decisions have
been made by the Board of Directors with respect to Lifetime’s
response to the indication of interest. There can be no assurance
that any definitive offer will be made or accepted, that any
agreement will be executed or that any transaction will be
consummated.
Lifetime does not intend to comment further on this unsolicited
indication of interest until its Board of Directors has completed
its review of the indication of interest and will communicate
further with Lifetime’s stockholders in accordance with applicable
securities laws.
J.P. Morgan Chase is serving as financial advisor to Lifetime.
Morgan, Lewis & Bockius LLP is Lifetime’s legal advisor.
Lifetime Brands, Inc.
Lifetime Brands is a leading global provider of kitchenware,
tableware and other products used in the home. The Company markets
its products under well-known kitchenware brands, including
Farberware®, KitchenAid®, Sabatier®, Amco Houseworks®, Chicago™
Metallic, Copco®, Fred® & Friends, Kitchen Craft®, Kamenstein®,
Kizmos™, La Cafetière®, Misto®, Mossy Oak®, Reo®, Savora™,
Swing-A-Way® and Vasconia®; respected tableware and giftware
brands, including Mikasa®, Pfaltzgraff®, Creative Tops®, Empire
Silver™, Gorham®, International® Silver, Kirk Stieff®, Towle®
Silversmiths, Tuttle®, Wallace®, Wilton Armetale®, V&A® and
Royal Botanic Gardens Kew®; and valued home solutions brands,
including Bombay®, BUILT NY®, Debbie Meyer® and Design for Living™.
The Company also provides exclusive private label products to
leading retailers worldwide.
The Company’s corporate website is www.lifetimebrands.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170314006363/en/
Lifetime Brands, Inc.Laurence Winoker, 516-203-3590Chief
Financial Officerinvestor.relations@lifetimebrands.comorJoele
Frank, Wilkinson Brimmer KatcherMatthew Sherman / Alyssa
Cass212-355-4449
Lifetime Brands (NASDAQ:LCUT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lifetime Brands (NASDAQ:LCUT)
Historical Stock Chart
From Apr 2023 to Apr 2024