GEHL: Agreement to Be Acquires by Largest Shareholder for $30 Per Share
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Submitted By Knobias ClipReport
GEHL: Agreement to Be Acquires by Largest Shareholder for $30 Per Share
By Fain Hughes, fhughes@knobias.com
Gehl Company (GEHL) has signed a definitive agreement to be acquired for $30 per share by its largest shareholder, Manitou BF S.A., a manufacturer and distributor of material handling equipment headquartered in France. The transaction, with an aggregate enterprise value of approximately $450 million, will be effected through a tender offer for all outstanding shares of Gehl by a Manitou subsidiary, Tenedor Corporation, followed by a second step, cash-out merger. It is expected that the current management team will be retained following the transaction.
