- Skullcandy (NASDAQ:SKUL +1.3%) announces it received an unsolicited acquisition proposal from Mill Road Capital Management LLC to acquire the company at $6.25 per share.
- The Mill Road Proposal represents a premium to the price of the current transaction with Incipio, however the Strategic Transactions Committee of the Skullcandy Board points to risks with the offer. Those risk include Skullcandy’s obligation to pay a termination fee to Incipio, Mill Road’s history of negotiations with the company, and the timing of such a transaction relative to the current deal with Incipio."
- The Skullcandy Board continues to recommend that Skullcandy stockholders tender their shares pursuant to the transaction with Incipio.
- Source: Press Release