02:29 PM EST, 12/23/2024 (MT Newswires) -- Destination XL (DXLG) said Monday it has received a non-binding proposal from Fund 1 Investments to acquire all of the outstanding shares of the company.

Destination said it regularly reviews opportunities to create and enhance shareholder value and will "carefully" review and evaluate the proposal and other strategic alternatives together with its financial and legal advisors.

Guggenheim Securities is acting as its financial advisor, the company said.

The shares were up about 18% in recent trading.

Price: 2.59, Change: +0.41, Percent Change: +18.58