Dye & Durham at 52-Week High on Possible Sale - InvestingChannel

Dye & Durham at 52-Week High on Possible Sale

Dye & Durham Limited (T.DND) hit a new 52-week high of $18.83 Wednesday. Engine Capital LP, which owns approximately 7.1% of Dye &

Durham Limited’s outstanding shares, today issued the below statement regarding Dye & Durham’s confirmation that it is exploring a sale of the Company. “Dye & Durham is a high-quality business that is currently underearning due to CEO Matthew Proud’s mismanagement, an ineffective Board and a drop in real estate transactions. While peers trade at above 18x EBITDA, the Company’s stock hovers around 8.5x EBITDA. The Board appears to have now authorized a reactionary sale process at the worst possible time and doubled down on its missteps.”

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