Shares of Select Interior Concepts (NASDAQ: SIC) were higher by 29.5% as of midday Monday, on the heels of an acquisition offer from a Sun Capital Partners affiliate.
Sun Capital Partners is looking to take Select Interior Concepts, a maker of interior finishing products, private. It's offering shareholders $14.50 per share in cash for a total deal value of $411 million. The bid is 32% higher than Friday's closing price, although the stock's present price of $14.26 is a bit below the actual offer.
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Why Select Interior Concepts Stock Was Surging Nearly 30% on Monday