Levin Capital Strategies, one of MarineMax’s top ten shareholders, has called on the company’s board to begin an immediate review of alternatives, citing what it described as prior failures to act on credible acquisition offers.
Founded in 2005 by John Levin, the investment firm said directors should examine all available paths to maximise shareholder value, including engaging with The Donerail Group following its $35 USD per share all-cash offer.
Levin Capital referred to public disclosures indicating that the proposal is fully financed and subject to customary due diligence, and described it as a viable path forward. It said it has supported a value-maximisation process even before the recent proposal was made, adding that further delay by the board may force shareholders to hold directors accountable at future annual meetings.
The firm also said it has shared its views directly with the company’s leadership to convey shareholders’ perspectives, and remains willing to provide additional feedback to support a timely review.
MarineMax will hold its annual meeting on 3 March 2026, when shareholders are set to vote on the re-election of chief executive officer Brett McGill as a director. In recent days, Donerail and MarineMax have exchanged public statements after Donerail submitted its proposal.
