MarineMax responds to Donerail Group's acquisition interest

MarineMax Inc. (NYSE: HZO) issued a statement responding to a public letter from The Donerail Group regarding its unsolicited acquisition interest in the recreational boat retailer.

The company said its board of directors has been engaging with Donerail and evaluating the acquisition indication with assistance from independent financial and legal advisors. MarineMax said it promptly responded to Donerail's initial approach with standard due diligence questions about funding sources and execution capability.

The company and its advisors have held three substantive calls with Donerail representatives, according to the statement. MarineMax provided Donerail with a standard non-disclosure agreement nearly two weeks ago to facilitate further discussions.

MarineMax noted that while Donerail has publicly expressed interest in receiving non-public business information and criticized the company for not providing such data, Donerail has not executed or provided comments on the non-disclosure agreement.

The board said it remains committed to evaluating any credible proposal that could enhance shareholder value. MarineMax operates as a recreational boat and yacht retailer, marina operator and superyacht services company with over 120 locations worldwide.

The information comes from a company press release statement.

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