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.
The business news you need
Get the latest local business news delivered FREE to your inbox weekly.