(Elkhart, IN) - A large company with operations in La Porte County will not be part of an even larger buyout.

Recently reports surfaced that LCI Industries, the parent company of Lippert Components, had been approached with an unsolicited, non-binding buyout proposal from Monomoy Capital Partners, a private equity group. The offer of $101 per share would have put the price of the deal at somewhere between $2 and $3 billion.

On Friday LCI announced that its Board of Directors, in consultation with its outside financial and legal advisors, unanimously determined that the offer was not satisfactory. The company says it’s still committed to a merger with Patrick Industries, which was announced in June. Shareholders are expected to weigh in on the proposed merger at a special meeting scheduled for November 18.

Lippert has a distribution and manufacturing facility in Westville.