Figs reportedly gets a takeout bid from Story3 Capital Partners, shares jump [Yahoo! Finance]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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Source: Yahoo! Finance
Reuters on Tuesday, highlighting concerns around the company's growth and margins. The Wall Street Journal first reported the news. The firm has made a cash offer of $6 per share for Figs, valuing the business at over $1 billion, according to the spokesperson. Figs, which currently has a market capitalization of approximately $870 million based on LSEG data, saw its shares jump more than 9% in premarket trading Wednesday. The company, known for its medical apparel and personal protective equipment, went public in 2021 with an initial valuation of $4.57 billion. At the time, it attracted strong investor interest following a surge in demand during the COVID-19 pandemic. However, as the pandemic waned, Figs experienced a slowdown in both sales and profitability as demand returned to normal levels. The company is now in the early stages of a recovery, navigating operational challenges in a tough macroeconomic climate. "As a private company backed by Story3's experienced partne
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