LCI board rebuffs Monomoy's unsolicited $101-a-share proposal

LCI Industries' board unanimously determined that Monomoy Capital Partners' unsolicited, non-binding proposal to buy the company for $101 per share in cash is not a superior proposal. The board also concluded it is not reasonably likely to lead to one. It reached the decision after consulting outside financial and legal advisors.

Why it matters: The rejection signals LCI's board will not entertain an unsolicited private equity bid that it views as falling short of a superior proposal.