Skip to main content
You are the owner of this article.
You have permission to edit this article.
Edit
Huttig to review options after fending off takeover bid

Huttig to review options after fending off takeover bid

{{featured_button_text}}

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.

Tags

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News

Trending

National News

News