M&A
confidence high
sentiment neutral
materiality 0.90
LCI Industries and Patrick Industries agree to all-stock merger; LCII holders get 1.2440 PATK shares per share
LCI INDUSTRIES
- Exchange ratio: 1.2440 PATK shares per LCII share; combined ownership ~52% Patrick, ~48% LCII.
- Combined board of 12 directors, 6 from each company; Patrick CEO Nemeth to remain CEO, Cleveland Chair, Sirpilla Vice Chair.
- Transaction expected to close by March 30, 2027, subject to stockholder and regulatory approvals.
- Termination fee of $94.2 million payable by either party under certain circumstances.
- Patrick common stock to continue trading on Nasdaq under 'PATK'.