StoneMor Inc (STON): We may be seeing a buyout very soon....

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Re: georgie18 post# 115

Friday, 10/08/2021 9:41:00 AM

Friday, October 08, 2021 9:41:00 AM

We may be seeing a buyout very soon.

StoneMor receives letter from Axar Capital Management inviting discussions regarding strategic alternatives
8:48 AM ET 9/27/21 | Briefing.com
StoneMor announced today that its board of directors has received a letter, dated September 22, from Axar Capital Management in which Axar expressed an interest in pursuing discussions concerning strategic alternatives that may be beneficial to the company and its various stakeholders.Axar currently owns approximately 75% of the company's outstanding common stock. Axar has engaged Schulte Roth & Zabel as its legal advisor and stated in the letter that it would engage a financial advisor at the appropriate time. According to the letter, Axar expects that any such discussions would be conducted with a special committee of the Board, assisted by financial and legal advisors it engages.