WASHINGTON (dpa-AFX) - Voss Capital, LLC, a significant shareholder of Griffon Corp. (GFF), said that it has opposed Griffon's planned acquisition of Hunter Fan Company for $845 million in a transaction announced earlier today.
Voss believes the acquisition is wrong for shareholders for many reasons, and unattractive valuation will destroy shareholder value.
Voss said that, in its opinion, Griffon's decision to buy Hunter Fan Company from MidOcean Partners demonstrates the Board's continued disregard for shareholders and causes it further question whether Griffon's directors are protecting Griffon's shareholders' best interests.
Voss noted that it has nominated several candidates for election as directors at Griffon's upcoming Annual Meeting in mid-February.
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