LCI's board rejected Monomoy's non-binding offer, leaving its Patrick merger in place. The merger still has conditions, and the filing adds no new deal terms or business results to change LCI's outlook.
For LCI, this keeps the previously announced Patrick merger as the only offer described as agreed. That merger still depends on its stated conditions. The filing adds no new deal terms or business results, so it does not change LCI's outlook.
Patrick's agreed purchase of LCI faces less competition after LCI's board rejected Monomoy's non-binding offer. The merger still depends on its stated conditions, but the rejection supports Patrick's path to completing it.
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