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Huttig to review options after fending off takeover bid

Huttig to review options after fending off takeover bid


TOWN AND COUNTRY — Huttig Building Products is doing some self-analysis after fending off a takeover bid earlier this year.

The company said Wednesday it had started a process to evaluate "potential strategic alternatives" to maximize shareholder value — a potential harbinger of a sale or merger.

The move comes nine months after Connecticut-based Mill Road Capital dropped a bid to buy Huttig for $4 per share, or $107.6 million. That offer was a premium at the time, but Huttig's share price since has risen by almost half. It closed at $5.21 Wednesday afternoon and hovered around $6 per share in after-hours trading. 

Huttig, which distributes millwork and other construction materials, was founded in 1885 in St. Louis.


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