Guests - If You want access to member only forums on HSO. You will gain access only when you sign-in or Sign-Up on HotSpotOutdoors.

It's easy - LOOK UPPER right menu.

PurpleFloyd

Arctic Cat to Be Acquired by Textron

5 posts in this topic

 in $247 Million Cash Transaction

http://www.arcticinsider.com/Article/Arctic-Cat-to-Be-Acquired-by-Textron-in-247-Million-Cash-Transaction

 

Quote

Press Release-

Arctic Cat Announces Agreement to Be Acquired by Textron in $247 Million All-Cash Transaction

Delivers substantial all-cash premium to Arctic Cat shareholders;

Textron committed to continued, long-term growth of Arctic Cat;

Combined businesses better positioned to be powersports industry leader

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 25, 2017-- Arctic Cat Inc. (NASDAQ: ACAT) today announced that it has signed a definitive merger agreement under which Textron Inc. (NYSE: TXT) will acquire Arctic Cat in a cash transaction valued at approximately $247 million, plus the assumption of existing debt. Under the terms of the agreement, which was unanimously approved by the Arctic Cat board of directors, Textron, through a wholly owned subsidiary, will commence a tender offer to purchase all outstanding shares of Arctic Cat at $18.50 per share in cash, representing a 40.7 percent premium to the closing price of Arctic Cat's common stock on January 20, 2017. Arctic Cat anticipates that tender offer materials will be provided to shareholders no later than February 7, 2017. The completion of the acquisition is subject to customary conditions and regulatory approvals.

“Arctic Cat’s board believes that Textron’s offer delivers compelling and immediate value to our shareholders,” said Christopher Metz, Arctic Cat’s president and chief executive officer. “This transaction presents increased opportunities for the business to leverage our combined scale, accelerate growth and enhance product innovation in ways that will benefit our customers, dealers and employees.” Textron is a multi-industry company with over $13 billion in annual revenues and approximately 35,000 employees.

Arctic Cat will become part of Textron’s Specialized Vehicles business, maintaining its iconic Arctic Cat brand, as well as its current manufacturing, distribution and operational facilities, with a focus on growing the business. Arctic Cat and Textron Specialized Vehicles have complementary product portfolios of recreational, utility and specialized vehicles. The combined businesses will be well positioned to be a powersports industry leader with a wider product line-up, and allow for more aggressive investment in product development, dealer networks, marketing and customer service.

Metz added: “We are proud of the progress our team has made to lay the foundation for Textron to continue taking this company forward. Textron plans to build on Arctic Cat’s strong brand and history of innovation. We expect many Arctic Cat employees to benefit from expanded career opportunities as part of a larger, more diversified company. On behalf of the Arctic Cat board and management team, we thank our dedicated employees for their hard work, commitment and pride in making Arctic Cat an enduring competitor and beloved brand in the powersports market. We are excited about Arctic Cat’s future.”

Advisors
Baird is serving as financial advisor and Fredrikson & Byron is serving as legal counsel to Arctic Cat. Shearman & Sterling LLP is serving as legal counsel to Textron.

About Arctic Cat
The Arctic Cat brand is among the most widely recognized and respected in the recreational vehicle industry. The company designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles, in addition to related parts, garments and accessories under the Arctic Cat® and Motorfist® brand names. Arctic Cat Inc.’s world headquarters is located in Minneapolis, Minnesota. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.

About Textron Specialized Vehicles Inc.
Textron Specialized Vehicles Inc. is a leading global manufacturer of golf cars, utility and personal transportation vehicles, professional turf-care equipment, and ground support equipment. Textron Specialized Vehicles markets products under the E-Z-GO®, Cushman®, Textron Off Road™, Jacobsen®, Dixie Chopper®, Ransomes®, TUG™, Douglas™, Premier™ and Safeaero™ brands. Its vehicles are found in environments ranging from golf courses to factories, airports to planned communities, and theme parks to hunting preserves.

 

 

Interesting factoid- Textron used to own Polaris. I remember having the Textron sticker on ours when I was in school

Share this post


Link to post
Share on other sites

http://www.fundinguniverse.com/company-histories/polaris-industries-inc-history/

 

Polaris Industries Inc. History

 

Quote

Corporate in the 1970s

After its one stumble, the company grew rapidly in the boom years of the 1960s. So pronounced was the growth that it outstripped the management skills of the owners, who had to decide whether to hire professional managers or sell the company. In 1968 Polaris was sold to Textron, a diversified company holding E-Z Go golf carts, Bell helicopters, Talon zippers, and Schaefer pens. The company kept Polaris in Roseau and continued snowmobile manufacturing, but also began limited research and development on watercraft and wheeled turf vehicles. Herb Graves of Textron became president and Johnson stayed on as vice-president to oversee production.

During the 1970s Polaris began to solidify its reputation for high-performance snowmobiles. In pre-Textron years, Polaris had purchased its snowmobile engines from a number of suppliers. With the entry of Textron, Polaris was able to bring on Fuji Heavy Industries as its sole supplier. Fuji engineers went to Roseau to work on building a high-quality engine specifically for Polaris. Increasingly, the Polaris product lines were being noticed. The TX Series set a standard for power and handling in racing and gained popularity with recreational riders. Introduced in 1977, the liquid-cooled TX-L was a strong cross-country racing competitor. Polaris also introduced the RX-L in the mid-1970s, which carried the first Independent Front Suspension (IFS) and produced winners on the racing circuits shortly after its debut. The 1970s also marked the opening of corporate offices in Minneapolis, with product development and production staying up north.

 

Share this post


Link to post
Share on other sites

Oh great, just after I switched brands to Cat after having about 5 Polaris's. My next sled may again be a Polaris! :crazy:

Share this post


Link to post
Share on other sites

By the time I can fit one of the new TexCats into my budget I will be like 104 years old and it will be 54.:grin:

leech~~ and BoxMN like this

Share this post


Link to post
Share on other sites

So does Textron still own Polaris?

 

Quote

Textron wanted out of the snowmobile business, too. Textron president Beverly Dolan, who had been president of Polaris during its first years with Textron, told Polaris's then-president, W. Hall Wendel, Jr., to sell off the company. A deal to sell the Polaris division to Canada's Bombardier fell through, however, because of the threat of antitrust action by the U.S. Department of Justice. Liquidation was on the horizon. This opened the door for a management group leveraged buyout led by Wendel, who believed that there was a market for snowmobiles and that seasonal snowfalls would rise again. Polaris Industries was created in July 1981, and a shutdown of the Roseau plant was avoided. 

 

 

Edited by Big Dave2
Answered my own question

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now



  • Posts

    • Well another game 7 tomorrow night.  Sens have a tough go having to play in Pitt.  Hoping they can pull it off though.  That Karlsson has some wheels!  Even in the 3rd period last night he was fast.     If it is Preds and Pitt it is a toss up, probably go 7 games.  If it is Preds and Sens, I think Preds will take it in 5-6.  
    • I get your drift Rebel but this kid is not going looking for trouble. I think he just wants some ability to respond as a last resort. Sorta the same reason so many of us have carried for  years-  a last ditch option. And he is not going to walk around with it under his raincoat! Ha Ha! I guess I will have to take a look at some of these things just for the heck of it.  To me they have always appeared to be a plastic shooting appliance. I have no use for one and no interest in buying one. There are other options and I certainly do not consider them to be decent hunting weapons,  although I know the younger generation does.
    • I've got $100 that says it's the diaphragm, like I first said. Put yer hand under the carb input are where your line and diaphragm are. Pump that bulb hard. if you get a drop or two of gas leaking out there, you DO have a hole or tiny tear. Pumping it up makes it run better at high speed and /or brings up idle is the telltale sign.
    • Thanks for the input guys.  When the bulb is pumped up it does run fine at high RPM's after a little bit.  I can hear/feel it want to kick in all the way and then it goes fine.  So sometimes it hesitates just a little bit before jumping up to full RPM's.  Of course the boat is on the lift at the cabin so this weekend I will check the size of the lines under the cowl so I can buy some of those along with some other parts.  I will have to decide if I trailer it home or work on it up at the lake when I am there for a week in mid June.  Thanks again for some direction.
    • Whole weekend cheats yes I agree even with ideal weight but one cheat meal a week I feel is ok If you are maintaining your calorie deficit for everything else. I feel like this is actually a good thing because when you are in a calorie deficit your bodies metabolism actually will slow down as your leptin levels drop to conserve energy. Having one cheat meal will temporarily raise your levels.  Now your cheat meal should be sensible still something with carbs and protein think burger or philly cheese steak sandwich pizza with sausage two or 3 slices not the whole pizza.   Fasted cardio before your cheat meal is also recommended         Anyway like others have said before being in a calorie deficit is the way to lose weight You need to find your calorie maintenance level then ideally cut 500 calories a day below that this will get you around 1lb of fat a week loss. Weigh yourself ONCE a week in the morning and track your progress give it 3 weeks before you evaluate and see if the calorie deficit you are at is right if you gained or stayed the same weight take more calorie off your daily intake. Being in a 500 calorie deficit is the most important part exercise comes second when adding exercise this is going to add to the daily calorie you burn so if without exercise you calorie deficit to lose weight was at 2500 calories with exercise it might be 2700 calories a day.   When cutting or anytime really clean foods are #1 in my book if it doesn't spoil in a week I don't eat it Think chicken, broccoli, green beans, peppers, sweet potatoes, green beans, turkey blah blah   You should also count your Macronutrients which are carbs protein and fat Ideally when cutting  10-30% carbs, 40-50% protein, 30-40% fat  
    • Have you had a chance to use your new Garmin Ref? Any feedback to share... 
    • Now that Dems are out of the majority I am seeing big sales on black guns. I would think you could get a better modern rifle than the bushmaster for a very reasonable price right now. 
    • "Because he lives in a high tension area" ... "high capacity"....    This one sounds like trouble just waiting to happen.
    • check for crack in the boot between the motor and the carb. get it started squirt some carb cleaner on the boot if the rpm goes up there is a leak.   
    • just spotted one. yay ! LOL 
  • Our Sponsors