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4 months ago
Dutch bike maker Accell Group receives 845 mln takeover proposal
April 11, 2017 / 6:35 AM / 4 months ago

Dutch bike maker Accell Group receives 845 mln takeover proposal

AMSTERDAM, April 11 (Reuters) - Accell Group , the maker of Dutch bicycle brands Sparta and Batavus, said Tuesday it had received a takeover proposal that values its stock at 845 million euros ($895 million) from investor Pon Holdings.

Pon is a diversified trading and distribution company in the transportation sector which also owns Gazelle and Santa Cruz Bicycles.

Accell said it was studying the non-binding 32.72 euro per share proposal, which represents a 27 percent premium to its closing price of 26.53 euros on Monday.

It said it is in talks with Pon and that there was no guarantee that the negotiations would lead to a deal.

$1 = 0.9446 euros Reporting by Toby Sterling

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