Patrick Industries (PATK) announced a merger agreement with LCI Industries. LCI shareholders will receive 1.244 Patrick shares for each LCI share, giving them about 48% of the combined company. Post-closing, the board will expand to 12 directors with equal representation from both companies. Current CEO Andy Nemeth stays on as CEO, Todd Cleveland becomes Chair, and John Sirpilla becomes Vice Chair. The merger is subject to customary closing conditions.
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