Re: Manitowoc Company (MTW)
The back story is a similar company MNTX was bought out 9/11/2024 w/ similar assets and customers as MTW.
MANITEX INTERNATIONAL INC is a leading provider of engineered lifting solutions including boom trucks, cranes, rough terrain forklifts, and special mission oriented vehicles. Through their subsidiaries, they manufacture and market a comprehensive line of boom trucks and sign cranes. Manitex International, Inc. (MNTX) has entered into a definitive agreement to be acquired by Tadano Ltd. in an all-cash deal valued at $223 million. This total includes approximately $100 million in outstanding debt, resulting in an equity value of $123 million for Manitex 1 2 5
. Under the terms of the agreement, shareholders of Manitex will receive $5.80 per share, which represents a premium of about 52.2% over the company's closing share price of $3.81 on September 11, 2024, the day before the announcement 2 4
.The acquisition is expected to close in early 2025, pending approval from Manitex shareholders and regulatory bodies 1 3
MTW has about 3x the market cap of MNTX. Both are small caps but there is a good chance MTW gets a similar offer. |
