A.S.V., Inc. to be acquired by Terex Corp. for $488M
Shares of A.S.V., Inc. (Nasdaq: ASVI) are rocketing in pre-market after the manufacturer of rubber track loaders, undercarriages and traction products said it is being acquired by Terex Corp. (NYSE: TEX).
The transaction is valued at approximately $488 million, or $18 per fully diluted share, of ASV common stock.
Terex expects the transaction to close by the end of the first quarter of 2008.
Shares of A.S.V. (ASVI) rocketed 44.1%, or $5.42, to $17.71 in pre-market. Shares of A.S.V. have been trading in the range of $10.11 to $19.45 for the past 52 weeks.
