Gehl buys out dissident investor (725,900 Shares)
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Company Press Release Friday July 9, 5:13 pm Eastern Time
Gehl Company Announces Repurchase of 725,900 Shares
WEST BEND, Wis.--(BUSINESS WIRE)--July 9, 1999--Gehl Company (Nasdaq: GEHL - news) today announced the repurchase of 725,900 shares of its common stock from James H. Dahl and affiliates in a privately-negotiated transaction. The per share purchase price was $20.50. The repurchased shares represent approximately 11.2% of the Company's outstanding stock. In connection with the repurchase, Mr. Dahl entered into a customary agreement pursuant to which he agreed not to acquire shares of the Company's stock or take certain other actions until after July 9, 2009.
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biz.yahoo.com
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Gehl buys out dissident investor
Heartland also turns up pressure on company
By Mark Savage and Kathleen Gallagher of the Journal Sentinel staff
Last Updated: July 9, 1999
Gehl Co. announced Friday that it had paid $14.9 million to buy out a major dissident shareholder in exchange for his agreement not to acquire Gehl shares or take certain other actions for 10 years.
The move to buy out James H. Dahl came hours after William J. Nasgovitz, president of Heartland Advisors Inc., sent a letter to Gehl's top executive asking him to name an outside director as the company's chairman. Nasgovitz also asked for the formation of an independent committee to review the possibility of a merger, sale or other transaction involving the West Bend-based construction and farm equipment manufacturer.
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Appeared in the Milwaukee Journal Sentinel on July 10, 1999.
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