Textron makes tender to acquire Arctic Cat

PROVIDENCE – Textron Inc. has offered to buy all shares of common stock of Arctic Cat Inc., for $18.50 per share, payable net to the holder in cash, without interest, subject to any withholding of taxes, the manufacturer announced Feb. 2.

The tender follows an Offer to Purchase and a previously announced Agreement and Plan of Merger, dated Jan. 24, among Textron, Textron’s acquisition subsidiary and Arctic Cat.

The tender is subject to customary conditions, including the offer of at least one share more than 50 percent of the outstanding shares (calculated on a fully diluted basis). Arctic Cat’s board of directors has approved the transaction and unanimously recommended its shareholders tender their shares pursuant to the tender. •

No posts to display