Arctic Cat Inc (ACAT.O)
17 Feb 2017
* Aces Acquisition Corp - offering to purchase all outstanding shares, par value $0.01 per share of Arctic Cat at a price of $18.50/share - SEC filing
Textron Inc said on Wednesday it would buy Arctic Cat Inc to accelerate its push into the recreational vehicle market amid slowing sales of its Cessna business jets, which weighed on profit in the latest quarter.
* Textron shares fall 11 pct, Arctic Cat jumps 42 pct (Adds details from conference call)
* Arctic Cat -upon termination of deal under specified circumstances, co will be required to pay Textron a termination fee of $7.4 million Source text:(http://bit.ly/2kswndd) Further company coverage:
* Says Arctic Cat will become part of Textron's specialized vehicles business Source text for Eikon: Further company coverage:
Jan 25 Cessna aircraft maker Textron Inc reported a 4.4 percent fall in quarterly profit, and said it would buy snowmobile and all-terrain vehicle maker Arctic Cat Inc for $247 million in cash.
* Textron reports fourth quarter 2016 results; enters agreement to acquire Arctic Cat Inc.; announces 2017 financial outlook
* Arctic Cat Inc - Now sees fiscal 2017 loss per share $1.00 to $1.40