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SPLP - Steel Connect: 3 Paths Forward To $4+ Per Share
Steel Partners Holdings LP LTD PARTNERSHIP UNIT
Investment bank Houlihan Lokey is in its 11th week advising STCN's Special Committee on Steel Partners' offer to buy 100% of STCN.
Paths could include an agreement on price and merger, a failed process that we believe is less likely and temporary, or a broader strategic review.
Other options could include paying a special dividend, a share repurchase program, selling one or both STCN businesses and/or monetizing STCN's $2B in NOLs.