Dye & Durham announced today that, following an indication of interest from a shareholder group led by management to acquire the Company, its board of directors has commenced a process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value. The indication of interest would result in Dye & Durham being taken private at an approximate 23% premium to the current market value, being a per share value of $50.50.
The strategic process will be led by a newly formed special committee of independent directors, and is fully supported by the Company’s management team. The alternatives to be explored in connection with the strategic process could include, among other things, the sale of part or all of the Company, a sale of some of the assets of the Company, a merger or other business combination with another party, or other strategic transactions.