Tom Sullivan has wanted to get his hands on LL Flooring Holdings (NYSE:LL) for some time now. Indeed, since before the pandemic. The revelation that he’s been interested that long and making another offer now is sending LL Flooring Holdings on a double-digit after-hours surge.
Formerly known as Lumber Liquidators, Tom Sullivan tried to buy the company back in 2019. Now, he’s put up another offer, sending it out earlier today. Sullivan is eager to combine LL Flooring with his own Cabinets to Go operation. Combined, it will make Sullivan a force to be reckoned with in kitchen—and possibly bathroom—renovation operations.
Meanwhile, LL Flooring is taking the offer with some disdain. While management was aware of the offer and relevant filings, LL Flooring is instead “…focus (ing) on our core growth strategies and work (ing) to deliver on our value creation objectives.”
A look at the last five days in trading for LL Flooring Holdings, meanwhile, shows that the stock needs some help somewhere, somehow. A spike earlier in the five-day period sent share prices up substantially. However, it quickly lost those gains, and started a modest recovery over the next two trading days. Ultimately, it lost the two-day recovery. It’s now back down to where it was before the second rally started. The third rally, however, might be a help.
