Bassett Furniture Shares Surge On Buyout Proposal At 27% Premium

  • CSC Generation Holdings Inc has made public its proposal to acquire 100% of the outstanding shares of Bassett Furniture Industries Inc BSET for $21 per share.
  • The proposal represents a 27% premium over the most recent closing price of $16.51.
  • CSC said BSET Board has been unwilling to engage in any meaningful way despite submitting a proposal on June 30, 2022, and September 26, 2022.
  • Therefore, CSC has made its offer public in order to facilitate constructive discussions with the Board with the goal of entering into a mutually agreeable transaction in the best interests of all shareholders.
  • Price Action: BSET shares are trading higher by 7.03% at $17.67 on the last check Tuesday.
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