DXL board reviews revised $0.84-per-share takeover bid from Zodiac

Destination XL Group, Inc. (NASDAQ: DXLG) said its board of directors is evaluating a revised unsolicited tender offer from Zodiac Partners II, LLC to acquire all outstanding shares of the company for $0.84 per share in cash.

The board is working with independent financial and legal advisors and said it will issue a recommendation to stockholders in due course. In the meantime, stockholders were advised to take no action pending the board's review.

The revised bid follows an earlier offer from Zodiac at $0.82 per share, which the DXL board unanimously rejected on May 26, 2026. At that time, the board determined the offer did not reflect the company's underlying value and was not in the best interest of stockholders.

DXL said it plans to file an amendment to its previously submitted Solicitation/Recommendation Statement on Schedule 14D-9 with the U.S. Securities and Exchange Commission once the board has completed its review.

Guggenheim Securities, LLC is serving as financial advisor to DXL, Greenberg Traurig, LLP is acting as legal advisor, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor.

DXL is headquartered in Canton, Massachusetts, and operates retail and outlet stores across the United States, along with an e-commerce platform.

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