Destination XL Group Inc. (NASDAQ: DXLG) announced it will review an unsolicited tender offer of $0.82 per share in cash from Zodiac Partners II, LLC. The offer was made on May 12.

The company's board of directors is evaluating the offer with independent financial and legal advisors, considering its existing merger agreement with FBB Holdings I, Inc. DXL advised shareholders to take no action while the board conducts its review.

The board will file a recommendation statement on Schedule 14D-9 with the Securities and Exchange Commission within ten business days of the tender offer date. The document will also be published on the company's investor relations website.

DXL operates as a retailer of men's big and tall apparel through retail stores, outlet locations, and e-commerce platforms. The company is headquartered in Canton, Massachusetts.

Guggenheim Securities serves as DXL's financial advisor, while Greenberg Traurig provides legal counsel and Joele Frank, Wilkinson Brimmer Katcher handles strategic communications.