[Stay on top of transportation news: Get TTNews in your inbox.]
Trailer Maker Manac Inc. Going Private, Led by Founder
Publicly traded trailer maker Manac Inc. of Saint-Georges, Quebec, said a group of investors will take the company private, led by Marcel Dutil, the company’s founder.
Manac said it had entered into a definitive agreement — subject to shareholder and court approval — worth C$186 million.
The company said shareholders will receive C$10.20 per share in cash, representing a premium of about 18.4% to the average closing price on the Toronto Stock Exchange for the 20-day period prior to March 30, 2015, when the company announced its strategic review process.
Charles Dutil, Manac’s CEO, will retain his post with the revamped original equipment manufacturer.
