HEAR - Turtle Beach to end proactive outreach to potential buyers after strategic review
- Turtle Beach ( NASDAQ: HEAR ) said Monday after a review of strategic alternatives, it decided to conclude its proactive outreach to potential buyers for the company.
- HEAR held talks with 109 strategic and financial parties, and received robust interest from multiple potential buyers.
- But these parties could not move forward with a deal due to factors including current market dynamics, challenging financing environment, inflation affecting consumer discretionary spending and ongoing integrations of prior acquisitions.
- HEAR will continue to evaluate strategic opportunities.
- The company also reported weaker-than-expected Q2 results , sending its shares -35% aftermarket.
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Turtle Beach to end proactive outreach to potential buyers after strategic review