ZAGG Incorporated (ZAGG)

[conix]

Zagg investor urges company to update shareholders on sale plans

By Josh Kosman

February 6, 2020



A large investor in Zagg is calling on the largest maker of US cell phone screen protectors to tell shareholders whether it plans to sell itself or not, The Post has learned.

“We ask that the board immediately update shareholders,” Arex Capital Management said in a Feb. 5 letter to the Zagg board, a copy of which was obtained by The Post.

“We are surprised by how long this [sales] process has taken, and we hope that the delay is due to bidders’ requests for final confirmation of the company’s year-end results,” Arex founder Andrew Rechtschaffen, wrote.

The Post exclusively reported on Aug. 21 that Zagg, which makes up 90 percent of US screen-protection sales, was speaking to two suitors, including an undisclosed private equity firm that offered as much as $9 a share.

Zagg’s share price closed Thursday at $7.38. A Zagg spokesman declined to comment.