StoneMor receives buyout offer from Axar Capital Management

StoneMor, a cemetery and funeral homeowner, has received a buyout offer from Axar Capital Management at $0.67 per share.



“As you are aware, Axar owns approximately 52% of the outstanding Common Stock. In considering the Proposed Transaction, please note that we have no current interest in selling the Common Stock we own nor would we currently expect, in our capacity as an owner of Common Stock, to vote in favor of any alternative sale, merger or similar transaction involving the Company other than the Proposed Transaction.”
Letter from Axar

Axar made clear in the announcement their intent to leverage their position as a majority shareholder and major source of financing to push through the deal.

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