Live Ventures Incorporated presents a non-binding offer for a transaction between Live Ventures and LL Flooring Holdings, Inc.
Live Ventures' goal is to facilitate constructive discussions with the Board and enter into a mutually agreeable transaction that is in the best interests of all LL Flooring shareholders.
The proposal to acquire 100% of LL Flooring shares in an all-cash offer for $5.85 per share represents a 106% premium to the Company’s closing share price as of October 6, 2023.
Live Ventures has a strategic focus on acquisitions of domestic middle-market companies, with Flooring being one of our key segments (currently representing 46% of total 2022 revenue). A transaction between Live Ventures and LL Flooring, which includes 442 stores spanning 47 states across the U.S., would therefore be synergistic given Live Ventures' extensive portfolio of flooring companies. Live Ventures portfolio includes Marquis Industries, Inc., a leading carpet and hard-surface flooring products manufacturer for which we have grown revenue levels approximately 117% since acquiring it in 2015, as well as Flooring Liquidators, Inc., a retailer and installer of floors, carpets and countertops, which we acquired earlier this year for $85 million.
This offer represents a non-binding indication of interest and is not subject to acceptance nor is in any way binding on any party. There can be no guarantee that any transaction will be entered into or completed. A binding commitment between Live Ventures and the Company would result only from the execution of mutually agreed upon definitive transaction documentation.
LL Flooring Holdings, Inc. is a specialty retailer of hard-surface flooring in the U.S.
Live Ventures Incorporated is a diversified holding company specializing in the retail and flooring industries.
