PGT's board of directors turned down Miter's fully-financed $33-per-share offer which it deemed inadequate, the sources said. PGT shares ended trading on Monday at $26.20. PGT manufactures and supplies windows and doors. The Venice, Florida-based company expanded into the overhead garage door market by acquiring Martin Door Holdings for approximately $185 million in 2022. It attributed the move to "a likely accumulation of PGT shares by a strategic investor," which it did not identify.

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Persons: Miter's, PGT, Matt DeSoto, David Carnevali, Anirban Sen, David Gregorio Our Organizations: Brands, Koch Industries, Martin Door Holdings, Koch Equity Development, Koch, Thomson Locations: U.S, Venice, Florida, New York