LCI Rejects Monomoy’s $2.5 Billion Bid, Backs Patrick Merger

LCI Industries has rejected Monomoy Capital Partners’ revised, non-binding offer of $104.50 a share, saying the $2.5 billion proposal does not top its planned all-stock merger with Patrick Industries. The board said the bid substantially undervalues LCI on its own and against the proposed combination’s potential.

November 10, 2026, 05:04 PM 475 0

LCI Rejects Monomoy’s $2.5 Billion Bid, Backs Patrick Merger

The company said Tuesday that its board reviewed the offer with financial and legal advisers. Monomoy, a Greenwich, Conn.-based middle-market investment firm with more than $6 billion in assets under management, initially offered $101 a share late last month before raising its bid to $104.50.

LCI and Patrick, both based in Elkhart, Ind., agreed in June to combine in an all-stock transaction. Under the deal, LCI shareholders would own roughly 48% of the combined company. LCI shareholders are scheduled to vote on the merger on Nov. 18.

LCI shares were recently up 0.9% at $102 in premarket trading.

When reusing this material a link to Money Talk is required.