Manitou acquires Gehl for $30 per share

By Lisa Kerner

Charlotte, N.C., Oct. 28 - Manitou BF SA subsidiary Tenedor Corp. was merged with and into Gehl Co. through a short-form merger following a successful tender offer for Gehl shares last week, it was announced on Tuesday.

All outstanding shares of Gehl were converted into the right to receive $30 per share, net to the holder in cash without interest, according to a form 8-K filed with the Securities and Exchange Commission.

The Gehl shares will be delisted from the Nasdaq Stock Market.

In September, Manitou agreed to buy Gehl for $30 per share in an all-cash transaction valued at $450 million.

Located in West Bend, Wis., Gehl manufactures compact equipment used in construction and agricultural markets.

Manitou manufactures and distributes material-handling equipment used in the construction, agriculture and industrial markets. The company is based in Ancenis, France.

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