Gehl shares surge on buyout by France’s Manitou
Shares of Gehl Co. (Nasdaq:GEHL) are spiking ahead of the opening after the compact equipment manufacturer said it will be acquired by Manitou BF S.A., a manufacturer and distributor of material handling equipment headquartered in France, for $30 per share, or aggregate enterprise value of approximately $450 million. The buyout offer represents a 120% premium over the company’s closing price on Friday, September 5.
Shares soared 116%, or $15.89, to $29.55 in pre-market trading. For detailed price information and news stories on Gehl, click GEHL.
