In response to recent communications from Island Capital Group LLC, MarineMax Inc. (HZO) announced its openness to and regular evaluation of genuine opportunities aimed at enhancing shareholder value.
MarineMax emphasized its receptiveness to input from key stakeholders and confirmed that it has engaged in multiple discussions with Island Capital Group LLC. The company assured that it will continue to prioritize decisions and actions that are deemed in the best interest of both MarineMax and its shareholders.
Earlier today, Island Capital Group issued an updated letter to MarineMax shareholders, expressing disappointment over the lack of communication from MarineMax’s management team or board of directors since the publication of its open letter earlier this week. The company highlighted the absence of outreach from MarineMax's financial or other advisors, a point which may resonate with shareholders.
Island Capital Group has garnered support from MarineMax's shareholders for its proposal to acquire the YMRS Business from MarineMax, as reflected in the recent trading activity of the company's stock. Notably, the closing share price on July 9, the day Island Capital Group sent its initial letter, stood at $30.36, and it rose to $36.07 by Thursday’s close—a notable 19% increase. The market's reaction indicates that Island Capital Group’s proposal is perceived as a catalyst for unlocking significant value for MarineMax's shareholders.
