Griffon Corp Stock Price, News & Analysis

On January 28, 2022, Voss Capital, a significant shareholder of Griffon Corp. (NYSE: GFF), announced its confirmation of Griffon's involvement in the withdrawal of two director nominees. The Company admitted to contacting the employers of Voss's nominees, leading to the revocation of their approval. Voss asserts that it conducted thorough vetting for its candidates and views Griffon's actions as an attempt to undermine shareholder interests. Voss emphasizes the importance of shareholder votes and promotes its BLUE proxy card for supporting change at Griffon.

Voss Capital, a major shareholder of Griffon Corp. (NYSE: GFF), issued an open letter addressing misleading claims from Griffon's recent investor presentation. Voss criticized the company for failing to recognize the need for change, highlighting issues like low returns on invested capital (ROIC), excessive executive compensation, and poor governance. They argue that Griffon's claims of strategic sales and margin improvements lack credibility, and they emphasize the need for an independent voice on the board to promote shareholder value. Voss proposes a detailed plan to unlock over $50 per share in value for investors.

Griffon Corporation (NYSE: GFF) emphasizes its robust business strategy and the successful acquisition of Hunter Fan Company in a letter to shareholders. The company urges shareholders to vote 'FOR' its four highly qualified director nominees in the upcoming Annual Meeting on February 17, 2022. With a history of value creation and a strong board, Griffon showcases its 11% revenue CAGR and 185% total shareholder return over three years. The letter also criticizes Voss Capital's nominee, asserting a lack of experience and ideas, and highlights governance amendments to enhance shareholder value.

Griffon Corporation (NYSE: GFF) has completed its acquisition of Hunter Fan Company for $845 million, enhancing its product portfolio within the Consumer and Professional Products segment. This acquisition is expected to accelerate Griffon's growth and online market presence. The acquisition was financed through a new $800 million Term Loan B facility and cash reserves. Griffon plans to update its fiscal year 2022 guidance during its upcoming earnings call on February 1, 2022. The deal underscores Griffon's strategy of expanding through pivotal acquisitions.

Voss Capital, a significant shareholder of Griffon Corp. (GFF), has released a presentation titled "Renovating Griffon," which details their engagement history with the company. The presentation addresses ongoing issues regarding Griffon's corporate governance and conglomerate structure, while proposing the addition of a qualified candidate to the Board of Directors to increase shareholder value. Voss emphasizes the importance of voting for this nominee during the upcoming Annual Meeting, urging shareholders to use the BLUE proxy card.

Voss Capital, a significant shareholder of Griffon Corp. (NYSE: GFF), announced the withdrawal of two director nominees from a proxy contest due to unexpected reversals of approval from their employers. Voss claims this pattern of intimidation may be influenced by Griffon executives and calls for an investigation. They emphasize the urgent need for independent oversight on Griffon's Board to prevent self-dealing practices detrimental to shareholders. Voss plans to detail governance failures and a value creation strategy in the coming days and urges shareholders to vote for change using the BLUE proxy card.

Griffon Corporation (NYSE: GFF) has announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired for its acquisition of Hunter Fan Company, expected to close in the week of January 24, 2022. Griffon will also release its fiscal first quarter results on February 1, 2022, followed by a conference call at 8:30 AM ET to update its fiscal 2022 guidance, incorporating Hunter's impact. Investors are encouraged to read the related proxy statement filed with the SEC.

Voss Capital, a major shareholder of Griffon Corp. (NYSE: GFF), has issued a letter urging ESOP participants to vote for their nominated board members at the upcoming Annual Meeting. Holding over 2% of the company's stock, Voss argues that Griffon is undervalued and that management, particularly CEO Ron Kramer, is impeding growth due to high compensation and ineffective governance. They believe that independent nominees Charlie Diao and Levi Winn can better represent shareholders' interests. Voss claims that a vote for their nominees could significantly increase the stock value to over $50/share.

On January 10, 2022, Voss Capital issued a letter to Griffon Corp.'s shareholders criticizing the company's governance and stock performance. They argue the management's recent $845 million acquisition of Hunter Fan demonstrates poor strategic decisions and lack of due diligence. Voss promotes a five-step plan aiming to create approximately $50 per share in value through restructuring and improved oversight. They highlight that Griffon's total return over five years is merely 8%, significantly underperforming peers, and urge shareholders to vote for their nominated directors at the upcoming annual meeting on February 17.