Flexsteel Board Unanimously Rejects $20.80/Share Unsolicited Takeover Bid from CSC Generation

FLEXSTEEL INDUSTRIES INC

Board unanimously rejected CSC Generation's unsolicited proposal of $20.80 per share in cash.
Proposal deemed to substantially undervalue Flexsteel and not in shareholders' best interest.
Company cites record fiscal 2022 sales and confidence in strategic plan for long-term value.
Wells Fargo Securities serves as financial advisor; Faegre Drinker as legal counsel.

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