LCI Industries and Patrick Industries have terminated discussions regarding a potential merger having been unable to reach mutually agreeable terms.
In a statement, Patrick says while there was consensus on leadership of the combined company, continued execution of its strategic plan and vision and other key aspects of a potential transaction in alignment with a merger of equals, the companies were unable to reach agreement on certain other key terms.
The two organisations confirmed discussions were taking place regarding a merger of equals on April 17.
At the time, they noted there could be no assurance that any such agreement would be reached or that any transaction would result from such discussions.
Both companies are based in Elkhart, Indiana and supply engineered components to the outdoor recreation and transportation markets.
