Destination XL Group

Destination XL Group has amended the deadline to consummate the merger agreement with FBB Holdings and Divine Merger Sub I to Oct. 30, 2026 (previously Sept. 11, 2026); the other terms of the agreement signed on Dec. 11, 2025 remain unchanged. The company filed a preliminary proxy statement and plans to distribute a definitive proxy to vote on the share issuance related to the merger. The board does not recommend the merger and also urges shareholders to reject an offer from Zodiac Partners II of $0.84 per share; the stock trades around $0.62 and the company is described as highly indebted. » More on de.investing.com

Destination XL filed a preliminary notice of voting rights with the SEC and recommends that shareholders not approve the merger with FullBeauty. The board cites the difficult consumer environment since the agreement was signed, FullBeauty’s high indebtedness, the risk of a negative equity value and the significant dilution for DXL shareholders under the current terms. DXL itself has a leverage ratio of 2.08; final voting materials will be sent before an extraordinary general meeting. » More on de.investing.com

The board of directors of Destination XL unanimously recommends rejecting Zodiac Partners II’s unsolicited cash offer of $0.84 per share, calling the bid undervaluing and opportunistic. The recommendation follows a review with external legal and financial advisers; DXL filed a formal statement (Schedule 14D-9) with the SEC. The stock trades around $0.63, the offer represents roughly a 33% premium, and analyst targets range from $1.00 to $1.50. Shareholders who have already tendered shares may withdraw them until the offer’s expiration on July 24, 2026, at 5:00 p.m. ET. » More on de.investing.com