The Gehl deal

  • 10-Sep-2008 02:58 EDT
Construction and farm equipment maker Gehl Co. 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 Corp., followed by a second step, cash-out merger. It is expected that the current management team will be retained following the transaction.
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