Destination XL Group, Inc. Recommends DXL Stockholders Reject Zodiac Partners II's Revised, Unsolicited Tender Offer and NOT Tender Their Shares

About this update from Destination Xl Group, Inc.

CANTON, Mass., July 08, 2026 (GLOBE NEWSWIRE) -- Destination XL Group, Inc. ("DXL") (NASDAQ: DXLG), the leading integrated commerce retailer of Big + Tall men's clothing and shoes, today announced that its Board of Directors, following a review with external legal and financial advisors, unanimously recommends that stockholders reject the revised, unsolicited tender offer to acquire all outstanding shares of DXL for $0.84 per share in cash (the "Revised Offer") announced by Zodiac Partners II, LLC ("Zodiac") on June 23, 2026, and not tender their shares. "The DXL Board of Directors remains committed to maximizing stockholder value and acting in the best interests of all DXL stakeholders," said Lionel Conacher, Chairman of the Board of DXL. "After careful review of Zodiac's revised proposal, the Board unanimously concluded that the modest increase in consideration still undervalues DXL and is not in the best interests of our stockholders. The Board reiterated its belief that Zodiac's repeated offers are highly conditional, opportunistic and seemingly timed to deliberately exploit a period of market dislocation. We therefore recommend that stockholders reject the Revised Offer and do not tender their shares." DXL stockholders who have already tendered their shares may withdraw them at any point prior to the expiration of the offer at 5:00 PM ET on July 24, 2026. The DXL Board issued its formal recommendation with respect to Zodiac's Offer in a Solicitation/Recommendation Statement on Schedule 14D-9 filed today with the U.S. Securities and Exchange Commission ("SEC"). AdvisorsGuggenheim Securities, LLC is acting as financial advisor to DXL, Greenberg Traurig, LLP is acting as its legal advisor and Joele Frank, Wilkinson Brimmer Katcher is serving as its strategic communications advisor. About Destination XL Group, Inc.Destination XL Group, Inc. is the leading retailer of Men's Big + Tall apparel that provides the Big + Tall man the freedom to choose his own style. Subsidiaries of Destination XL Group, Inc. operate DXL Big + Tall retail and outlet stores and Casual Male XL retail and outlet stores throughout the United States, and an e-commerce website, DXL.COM, and mobile app, which offer a multi-channel solution similar to the DXL store experience with the most extensive selection of online product...

View stock analysis, news, and events for Destination Xl Group, Inc.