GARDEN CITY, N.Y.--(BUSINESS WIRE)--Lifetime Brands, Inc. (NasdaqGS:LCUT), a leading global provider of branded kitchenware, tableware and other products used in the home, today confirmed that it has received an unsolicited non-binding indication of interest from Mill Road Capital Management LLC expressing its interest in acquiring all of the outstanding shares of Lifetime that it does not already own for a $20.00 per share price in cash.
Lifetime’s Board of Directors is committed to acting in the best interests of all stockholders. Consistent with its fiduciary duties and responsibilities, Lifetime’s Board of Directors will, in consultation with its financial and legal advisors, carefully evaluate and consider this indication of interest in due course in the context of Lifetime’s strategic plans, and its ongoing review of a broad range of opportunities to enhance stockholder value through strategic, financial and operational measures. Lifetime’s stockholders do not need to take any action at this time.
Lifetime cautions its stockholders and others considering trading in its securities that it has just received Mill Road Capital’s unsolicited indication of interest and no decisions have been made by the Board of Directors with respect to Lifetime’s response to the indication of interest. There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.
Lifetime does not intend to comment further on this unsolicited indication of interest until its Board of Directors has completed its review of the indication of interest and will communicate further with Lifetime’s stockholders in accordance with applicable securities laws.
J.P. Morgan Chase is serving as financial advisor to Lifetime. Morgan, Lewis & Bockius LLP is Lifetime’s legal advisor.
Lifetime Brands, Inc.
Lifetime Brands is a leading global provider of kitchenware, tableware and other products used in the home. The Company markets its products under well-known kitchenware brands, including Farberware®, KitchenAid®, Sabatier®, Amco Houseworks®, Chicago™ Metallic, Copco®, Fred® & Friends, Kitchen Craft®, Kamenstein®, Kizmos™, La Cafetière®, Misto®, Mossy Oak®, Reo®, Savora™, Swing-A-Way® and Vasconia®; respected tableware and giftware brands, including Mikasa®, Pfaltzgraff®, Creative Tops®, Empire Silver™, Gorham®, International® Silver, Kirk Stieff®, Towle® Silversmiths, Tuttle®, Wallace®, Wilton Armetale®, V&A® and Royal Botanic Gardens Kew®; and valued home solutions brands, including Bombay®, BUILT NY®, Debbie Meyer® and Design for Living™. The Company also provides exclusive private label products to leading retailers worldwide.
The Company’s corporate website is www.lifetimebrands.com.