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17% Stockholder Seeks to Offer an Alternative Path to the Insufficient $37 Per Share Tender Offer
Continues to Believe At Home is a Winning Retailer With a Standalone Path to Significant Near-Term Stock Price Appreciation Beyond $37 Per Share
Prospective Slate of Nominees Would Focus on Creating Enduring Value for Stockholders While Remaining Open-Minded to Truly Viable Alternatives
NEW YORK, July 07, 2021--(BUSINESS WIRE)--CAS Investment Partners, LLC (together with its affiliates, "CAS" or "we"), which beneficially owns approximately 17% of the outstanding common stock of At Home Group Inc. (NYSE: HOME) ("At Home" or the "Company"), today announced its intent to nominate a slate of highly-qualified and independent candidates for election to the Company’s Board of Directors (the "Board") at the 2021 Annual Meeting of Stockholders (the "Annual Meeting") in the event that the tender offer initiated by funds advised by Hellman & Friedman LLC (collectively "H&F") fails.
Clifford A. Sosin, Founder and Portfolio Manager of CAS, commented:
"We want to offer our fellow stockholders a viable alternative to the insufficient $37 per share tender offer initiated by H&F. As outlined in our detailed presentation and prior letters, we firmly believe At Home is a winning retailer on a path to significant near-term stock price appreciation. This is why we plan to nominate a slate of highly-qualified and independent director candidates for election to At Home’s Board if stockholders reject H&F’s tender. Our prospective slate will be committed to creating enduring value for the Company’s stockholders, including through potential dividends and stock repurchases, while also remaining open-minded when it comes to exploring viable strategic alternatives. CAS is committed to having a principal serve on its slate and remaining a long-term stockholder if it elects directors to the Board.
It has become absolutely clear to us that the current Board cannot be trusted to act in the best interests of the Company’s stockholders given its approval of this grossly undervalued transaction. Fresh perspectives are clearly required in the boardroom."
The Company’s stockholders can review our analysis by visiting www.ProtectAtHome.com.
About CAS Investment Partners, LLC
CAS Investment Partners, LLC is a value-focused investment management firm with offices in New York City and Connecticut. The firm was founded in 2012 by Clifford A. Sosin.
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