Delta Apparel shares soar 193% after receiving unsolicited offer

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Delta Apparel shares soar 193% after receiving unsolicited offer

Delta Apparel, Inc. shares are trading higher in Monday's afternoon trading after the company announced it received an unsolicited offer to purchase the company's Salt Life business.

Baird, the company's financial consultant, has been appointed by the company's board of directors. Any decision regarding the potential transaction or other strategic option remains subject to approval by the Delta Apparel Board of Directors.

DLA price action: Shares of DLA rose 193% in the after-hours session at the time of release, according to Benzinga Pro.