Skullcandy Inc. said Monday it received a potentially better buyout bid from Mill Road Capital Management over the weekend, which gives it the right to terminate its merger agreement with Incipio LLC. The maker of headphones and owner of the Astro Gaming brand said it received a bid from Mill Road of $6.05 a share in cash, which was above the Incipio bid of $5.75, just before the go-shop period of the Inicipio deal ended. Skullcandy said it plans to negotiate with Mill Road to determine if it will lead to a "superior" proposal, in which case it would have the right to terminate its agreement with Incipio. Skullcandy's stock, which was still inactive in premarket trade, has soared 70% over the past three months, while the S&P 500 has gained 4.2%.
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