09:45 AM EST, 11/21/2025 (MT Newswires) -- Dye & Durham ( DYNDF ) Friday confirmed that it has received and is reviewing an unsolicited proposal from Plantro to acquire the company.

Plantro, controlled by former Dye & Durham chief executive Matthew Proud, is proposing to buy the company for about C$384 million, Bloomberg News reported on Thursday.

Dye & Durham ( DYNDF ) overnight Thursday also said seasoned director Alan Hibben has been appointed to independently chair its board, effective immediately. Chief executive George Tsivin also joins the board.

The company announced the resignation of three directors -- Arnaud Ajdler, Sid Singh and Eric Shahinian, who is the nominee of OneMove Capital, a major shareholder that has been agitating for greater corporate governance.

Hibben has more than 40 years of experience in investment, advisory, finance, and operational roles, a statement said. Dye & Durham ( DYNDF ) is also engaging with OneMove on the appointment of his replacement.