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WNC

Wabash

$19.38

0.08 (0.41%)

, STS

Supreme Industries

$15.47

0.02 (0.13%)

05:43
08/09/17
08/09
05:43
08/09/17
05:43

Wabash to acquire Supreme Industries for $21 per share

Wabash National (WNC) and Supreme Industries (STS) announced that they have entered into a definitive agreement under which Wabash National would acquire all of the outstanding shares of Supreme in a cash tender offer for $21 per share, which represents an equity value of $364M and an enterprise value of $342M. The acquisition will combine Supreme's extensive medium- and light-duty commercial vehicle portfolio, distribution network, and regional manufacturing locations with Wabash National's advanced composite technologies, expertise in lean manufacturing and optimization, engineering and design proficiency and strong supplier relationships. Wabash National expects to deliver at least $20 million in annual run-rate cost synergies by 2021. The expected cost synergies are primarily driven by corporate and procurement expenditures, and operational improvement savings. In addition, over time, Wabash National expects to achieve significant incremental revenue opportunities that neither company could obtain on a standalone basis. The board of Supreme, having determined that the offer and the merger are advisable, fair to, and in the best interests of Supreme and its stockholders, approved the agreement and plan of merger and the other transactions contemplated thereby, including the tender offer, and recommended that Supreme's stockholders accept the offer and tender their shares in the offer when it is made. The closing of the acquisition is expected to occur no later than the fourth quarter of 2017.

WNC

Wabash

$19.38

0.08 (0.41%)

STS

Supreme Industries

$15.47

0.02 (0.13%)

  • 09

    Aug

WNC Wabash
$19.38

0.08 (0.41%)

02/02/17
CHLM
02/02/17
NO CHANGE
Target $19
CHLM
Hold
Wabash price target raised to $19 from $11 at Craig-Hallum
Craig-Hallum analyst Steven Dyer raised his price target for Wabash to $19 from $11 noting that improving sentiment on a slightly improved outlook sent shares rallying, even as 2017 will likely be a down year for both revenue and earnings. He reiterates a Hold rating on the shares, citing valuation.
04/06/17
GHSC
04/06/17
INITIATION
GHSC
Neutral
Wabash coverage assumed with a Neutral at Seaport Global
Seaport Global analyst Rhem Wood assumed coverage on Wabash with a Neutral saying he does not believe the company can grow earnings without a stronger than currently anticipated trailer market.
04/26/17
CHLM
04/26/17
NO CHANGE
Target $24
CHLM
Hold
Wabash price target raised to $24 from $19 at Craig-Hallum
Craig-Hallum analyst Steven Dyer raised his price target for Wabash to $24 from $19 after the company delivered a "relatively solid Q1 report" and upbeat guidance on an improved industry demand environment. The analyst reiterates a Hold rating on the shares given the recent rally in the shares and valuation.
07/26/17
AGIS
07/26/17
NO CHANGE
AGIS
Wabash should be bought aggressively at $21 or lower, says Aegis
Aegis analyst Jeffrey Kauffman recommends buying Wabash aggressively if the stock opens at $21 or lower. He thinks that the company's Q2 miss "appears to be mostly related to the material cost and pricing line in gross margins."The analyst remains upbeat on the company's fundamentals and keeps a $25 price target and Buy rating.
STS Supreme Industries
$15.47

0.02 (0.13%)

09/08/16
09/08/16
NO CHANGE

Supreme Industries moves up on a positive mention by Navellier

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