LSB Industries Inc. said July 25 that its board of directors has not been presented with a sale transaction that they feel is in the best interests of shareholders. As a result, at this time, the board has made a decision to terminate the formal sale process portion of its strategic review.
The company said the board always remains open and willing to engage in these types of discussions. It said while it is not sharing specific details of the process, it believes that, at this time, the current outlook in the nitrogen chemical industry is adversely affecting any potential transactions. The board will, however, continue to work with its outside advisors on evaluating other strategic, financial and operational options.